DISCLOSURE STATEMENT
DEVELOPER:
HOMESITE DEVELOPMENTS INC.
Incorporation Number BC0455690
REGISTERED AND
RECORDS OFFICE:
C/O FLEMING, OLSON & TANEDA
BARRISTERS & SOLICITORS
4038-200B STREET
LANGLEY BC V3A 1N9
CANADA
BUSINESS ADDRESS:
HOMESITE DEVELOPMENTS INC.
2201-204A STREET
LANGLEY BC V2Z 2A2
CANADA
REAL ESTATE
BROKERAGE:
The Developer may retain COLDWELL BANKER 1ST
PIONEER REALTY of 22424 – FRASER HIGHWAY
LANGLEY BC V3A 8N3 to Market the Property. The
Developer may also retain Royal LePage-Wolstencroft
Realty unit #111, 20434–64th Avenue Langley BC V2Y 1N4.
The Developer may also use it’s own staff to market the
Property. The Developer’s staff are not licensed under
the Real Estate Services Act of British Columbia and are
not acting on behalf of the Purchaser(s) or prospective
Purchaser(s) of the Property.
DATE OF DISCLOSURE 26 OCTOBER 2009
STATEMENT:
This Disclosure Statement relates to a development property that is not yet
completed. Please refer to Section 7.2 for information on the purchase agreement.
That information has been drawn to the attention of _________________________
_______________________________, who has confirmed that fact by initialling in
the space provided here: _________________.
This Disclosure Statement has been filed with the Superintendent of Real Estate,
but neither the Superintendent, nor any other authority of the government of the
Province of British Columbia, has determined the merits of any statement
contained in the Disclosure Statement, or whether the Disclosure Statement
contains a misrepresentation or otherwise fails to comply with the requirements of
the Real Estate Development Marketing Act. It is the responsibility of the developer
to disclose plainly all material facts, without misrepresentation.
hdi-123-DisclosureStatement
RIGHT OF RECISSION
Under section 21 of the Real Estate Development Marketing Act, the purchaser or
lessee of a development unit may rescind (cancel) the contract of purchase and
sale or contract to lease by serving written notice on the developer or the
developer’s brokerage, within 7 days after the later of the date the contract was
entered into or the date the purchaser or lessee received a copy of this Disclosure
Statement.
The rescission notice may be served by delivering or sending by registered mail, a
signed copy of the notice to:
(a)
(b)
(c)
(d)
the developer at the address shown in the disclosure statement received by
the purchaser;
the developer at the address shown in the purchaser’s purchase agreement;
the developer’s brokerage, if any, at the address shown in the disclosure
statement received by the purchaser, or
the developer’s brokerage, if any, at the address shown in the purchaser’s
purchase agreement.
The developer must promptly place the purchaser’s deposits with a brokerage,
lawyer or notary public who must place the deposit in a trust account in a savings
institution in British Columbia. If a purchaser rescinds their purchase agreement in
accordance with the Act and regulations, the developer or the developer’s trustee
must promptly return the deposit to the purchaser.
hdi-123-DisclosureStatement
TABLE OF CONTENTS
1
The Developer
1.1
Incorporation
1.2
Purpose
1.3
Registered and Records Office
1.4
Directors
1.5
Developer’s Background
1.6
Conflict of Interest
2
General Description
2.1
General Description of the Development
2.2
Permitted Use
2.3
Building Construction
2
2
2
3
3
Servicing Information
3.1
Utilities and Services
(a) Water
(b) Electricity
(c) Sewerage
(d) Natural Gas
(e) Fire Protection
(f) Telephone and Cable Television Service
(g) Access
3
3
4
4
4
4
4
5
Title and Legal Matters
4.1
Legal Description
4.2
Ownership
4.3
Existing Encumbrances and Legal Notations
4.4
Proposed Encumbrances
4.5
Outstanding or Contingent Litigation Liabilities
4.6
Environmental Matters
5
5
5
6
6
6
Construction and Warranties
5.1
Construction Dates
5.2
Warranties
7
7
Approvals and Finances
6.1
Development Approval
6.2
Construction Financing
8
8
Miscellaneous
7.1
Deposits
7.2
Purchase Agreement
7.3
Developer’s Commitments
7.4
Other Material Facts
8
9
9
9
4
5
6
7
hdi-123-DisclosureStatement
Page
1
1
1
1
1
2
(a) Property Taxes
(b) Insurance
(c) Geotechnical Assessment Report
(d) Schools
(e) Adjacent Land Uses
(f) Right of Access by the Developer after Completion
8
Declaration
9
10
10
10
11
11
12
PROPOSED SUBDIVISION PLAN
Exhibit “A”
ARCHITECTURAL DESIGN CONTROLS
Exhibit “B”
ENCUMBRANCES AND PROPOSED ENCUMBRANCES
Exhibit “C”
CONTRACT OF PURCHASE AND SALE
Exhibit “D”
GEOTECHNICAL ASSESSMENT REPORT
Exhibit “E”
TOWNSHIP OF LANGLEY, LETTER OF DECISION
Exhibit “F”
REPLACEMENT TREE PLAN PROPOSED
Exhibit “G”
TOWNSHIP OF LANGLEY ZONING BYLAWS SR-1
Exhibit “H”
TOWNSHIP OF LANGLEY ZONING BYLAWS R-1D
Exhibit “I”
TOWNSHIP OF LANGLEY LETTER, REZONING PREREQUISITES
Exhibit “J”
STAGE 1 PRELIMINARY SITE INVESTIGATION (Exec. Summary)
Exhibit “K”
hdi-123-DisclosureStatement
-11.0
The Developer
1.1
Incorporation
Homesite Developments Inc. (the “Developer”) is a British Columbia
Company, duly incorporated on the 6th day of October 1993, under
incorporation number BC0455690.
1.2
Purpose
The Developer was not incorporated specifically for the purpose of this
development. The Developer has been involved in several residential
developments since its date of incorporation. The Developer has investment
in three other properties, all of which were purchased with the intention to
develop those properties at the earliest feasible time.
1.3
Registered and Records Office
The registered and records office of the Developer is c/o Fleming Olson &
Taneda Barristers and Solicitors 4038-200B Street, Langley, BC, V3A 1N9.
1.4
Directors
The names of all of the Directors of the Developer are:
Mr. Quinn Jeannotte
1.5
Developer’s Background
(1)
The director of the Developer has approximately twenty years of
experience working on its development properties or working with other
developers on their development properties. Most of the past developments
have been bare land single family residential lots.
(2)
The Developer, its directors and shareholders have never been
subject to any penalties or sanctions imposed by a court or regulatory
authority relating to the sale, lease, promotion, or management of real estate
or securities, or to lending money secured by a mortgage of land, or to
arranging, administering or dealing in mortgages of land, or to theft or fraud.
hdi-123-DisclosureStatement
-2(3)
The Developer, its directors and shareholders have never declared
bankruptcy or made a voluntary assignment in bankruptcy, made a proposal
under any legislation relating to bankruptcy or insolvency or been subject to
or instituted any proceedings, arrangement or compromise with creditors or
had a receiver, receiver manager or trustee appointed to hold assets.
(4)
The Developer, its directors and shareholders have never been
involved with any other development where they or the Developer has
declared bankruptcy made a proposal under any legislation relating to
bankruptcy or insolvency or been subject to any penalty or sanctions
imposed by a regulatory authority.
1.6
The Developer may sell one of the Lots to the director (Quinn Jeannotte) for
its use and enjoyment or resale.
2.0
General Description
2.1
General Description of the Development
The Developer intends to subdivide the one acre parent parcel into five lots
(the “Lots”) total with two conventional 650m2 minimum area lots at the
north end of the site fronting 49A Avenue plus three pan handle lots located
at the south of the parent parcel each having a 650m2 minimum area. The
three pan handle lots will use a shared access roadway for their primary
access/egress. The two north lots will have access to their rear yards via the
shared access roadway. All five Lots will be marketed for sale by the
Developer, their agents or the brokering sales team
The attached Exhibit “A” is a sketch that shows the plan as proposed to the
Township of Langley at this time.
2.2
Permitted Use
The proposed zoning for the Development Property is R-1D, and the
permitted use for all of the lots in the Development is Single Family
Residential. No Lot proposed in the Development Property may be used for
commercial or other purposes not ancillary to residential purposes. A copy
of Township of Langley Zoning Bylaw 402 dealing with Residential Zone R1D is attached as Exhibit “I” Township of Langley Zoning Bylaws R-1D.
hdi-123-DisclosureStatement
-32.3
Building Construction
The purchaser is responsible for construction of any improvements on each
Lot and building permits are required for each Lot. Each Lot will be
governed by the Architectural Design Controls registered against the title of
each Lot. A copy of the Architectural Design Controls will be available to
purchasers from the Developer, a copy of which are attached hereto as
Exhibit “B”, and will contain requirements and restrictions with respect to,
among other things, building envelopes, building heights, density, setbacks,
fencing, design, materials, construction techniques, landscaping and other
approvals. The purchaser of each Lot will be responsible for the compliance
with all of the terms of the Architectural Design Controls. The Developer
may, in its discretion, amend the Architectural Design Controls.
The Developer is not aware of any zoning or building restrictions imposed or
enforced by local authorities except for:
(a)
the building codes, and the requirements for building and other
permits; and,
(b)
the building restrictions contained in the encumbrances referred to in
Exhibit “C” of this Disclosure Statement.
3.0
Servicing Information
3.1
Utilities and Services
The Developer will provide services and utilities noted below to a point
designated by the Developer on the boundary of each Lot. All connections
and extension of services into each Lot will be at the cost of and the
responsibility of the purchaser of a Lot.
Water, storm sewer, sanitary sewer, solid waste disposal (if any) and fire
protection services will be governed by a local service area bylaw
administered by the Township of Langley. Individual Lot owners will be
assessed for such services directly by the Township of Langley as described
in more detail below or as otherwise determined by the Township of Langley.
(a)
Water
The Lots will have access to potable water provided by the Township
of Langley’s community water system. Residential water service lines
hdi-123-DisclosureStatement
-4will be installed at the cost of the Developer to the boundary of each
Lot. A standard water supply agreement and connection and usage
charges will apply to each Lot. The water system may be owned and
operated by the Township of Langley.
(b)
Electricity
Underground electrical service ducts will be installed at the cost of the
Developer to the boundary of each Lot. Electrical power service will
be provided by BC Hydro and Power Authority through agreements
with users directly.
(c)
Sewerage
Residential sanitary sewer lines will be installed at the cost of the
Developer to the boundary of each Lot. A standard service agreement,
connection charges and charges may apply for each Lot serviced.
The sanitary sewer and waste water treatment systems may be owned
and operated by the Township of Langley and the Greater Vancouver
Sanitary and Drainage District.
Drainage in the Development will be organized through a combination
of storm sewers and natural run-off systems.
(d)
Natural Gas
Natural gas service will be installed at the cost of the Developer to the
boundary of each Lot. Natural gas service may be provided by
Terasen through agreements with users directly. Those pan handle
Lots will have gas service extended to the bulk portion of each lot.
(e)
Fire Protection
Fire fighting services will be provided by the Township of Langley
Murrayville Fire Hall located at 22170 – 50th Avenue Langley, British
Columbia.
(f)
Telephone and Cable Television Service
Underground telephone ducts will be installed at the cost of the
Developer to the boundary of each Lot. Telus will provide telephone
services through agreements with users directly, on application from
a purchaser.
hdi-123-DisclosureStatement
-5–
(g)
Access
Paved roads within the Development will be completed by the
Developer, at its cost. Road access to all of the Lots will be provided
by way of the completion of 49A Avenue across the frontage of the
parent property and a private shared access roadway that will extend
South from 49A Avenue approximately thirty meters to the bulk
portion of Lots 2, 3 and 4.
4.0
Title and Legal Matters
4.1
Legal Description
The parent parcel civic address the developed lots will be created from is
21726-49A Avenue, Langley, BC. legally described as PID 008-695-938; Lot 37
Section 6 Township 11 New Westminster District Plan 39985 (the
“Property”).
4.2
Ownership
Title to the Development Property is issued in the name of:
Tanzite Ventures Inc. (the “Owner”)
(BC0823041)
c/o Fleming Olson & Taneda
4038-200B Street
Langley BC V3A 1N9
Canada
A Servicing and Development Agreement between the Developer and the
Owner grants permission to the Developer that allows the Developer to
subdivide the Owners Property and to market and coordinate the Lot sales.
4.3
Existing Encumbrances and Legal Notations
1. Covenant Charge BB1210562 is currently registered against the property
title. This charge is a blanket covenant in favour of the Township of Langley
that requires Architectural Design Controls satisfactory to the Township of
Langley and any necessary tree protection measures will both be registered
over the title for all Lots included in the subdivision plan at the time of
subdivision registration. This blanket covenant will be discharged and the
hdi-123-DisclosureStatement
-6Proposed Encumbrances charged over the title before the registered
ownership changes into the purchaser’s name.
2. A mortgage may exist as a registered charge against the title on the
completion date. The Developer will be responsible to payout all associated
costs to have the mortgage discharge executed on or before the completion
date. The mortgage will be displayed as a charge against title until the New
Westminster Land Title Office has completed the application for discharge at
which time the mortgage will be displayed as a cancelled charge thereafter.
3. Legal Notation: Zoning regulation and plan under the Aeronautics Act
(Canada) filed 31/03/1976 under M26464 Plan No. 49871. Lots 1, 2, 3, 4 & 5
are located near the airway traffic for the Langley Airport.
4.4
Proposed Encumbrances
The proposed encumbrances are listed and copies are attached in Exhibit
“C” to this Disclosure Statement.
4.5
Outstanding or Contingent Litigation Liabilities
At the date of this Disclosure Statement Homesite Developments Inc. is
involved in an action in the Supreme Court of British Columbia as a plaintiff
by counterclaim against a British Columbia Corporation. The action number
is S117397. Homesite Developments Inc. claims in the action that a deposit
that was paid by Homesite Developments Inc. into trust toward the purchase
of development property should be returned to Homesite Developments Inc.
as the seller of the development property has allegedly not fulfilled their
contractual obligation to deliver the property in the form that was agreed
upon.
4.6
Environmental Matters
Prior to final subdivision approval, the Developer will obtain from the
Township of Langley an Erosion and Sediment Control Permit which may, in
addition to protecting the fisheries resource, provide for the protection of the
aquifers and the maintenance of surface and ground water quality and
quantity to the Lots and adjacent lands.
Efforts have been made and will be made to minimise changes from the
natural state in the Lots, other than clearing for access, construction and
hdi-123-DisclosureStatement
-7servicing purposes. Each purchaser of a Lot will be responsible for
identifying and effectively mitigating the effects of any changes from the
natural state, terrain, and drainage within the Lot.
Federal legislation may require the installation of fencing on lands bordering
sensitive environmental areas or natural parkland areas with warning
notices and each purchaser of a lot shall be aware that said fences cannot
be removed or adjusted in any way and all warnings must be strictly adhered
to.
Depending upon tree location, species, age, condition and availability of
lateral and vertical root support, it is possible that some trees in the
Development may be or may become unstable and thereby present a hazard
at some time to one or more of the Lots. Prospective purchasers are
advised to retain a landscape architect or arborist for a report on the nature
of this risk with respect to each Lot.
A Stage 1 Preliminary Site Investigation was completed on the Property by
Levelton Consultants Ltd. April 22, 2008 a copy of the executive summary is
attached as Exhibit “K”.
5.0
Construction and Warranties
5.1
Construction Dates
Construction of servicing and utilities has not yet commenced. The
Developer estimates that construction of the servicing and utilities will be
completed on or before December 15, 2009, and that the subdivision plan
creating the Lots will be registered on or before approximately December 15,
2009, subject to receipt of all necessary approvals from the jurisdictions
having authority and completion of the registration process at the Land Title
Office.
5.2
Warranties
The Developer will not provide any construction or other warranties in
connection with the Development. The Developer will not have the
obligation to construct any buildings or improvements on any of the Lots, or
perform any work or services, except as may be set out in the applicable
contract of purchase and sale or in this Disclosure Statement.
hdi-123-DisclosureStatement
-86.0
Approvals and Finances
6.1
Development Approval
Preliminary layout approval of those Lots in the Development offered
pursuant to the Disclosure Statement was issued by the Township of
Langley by letter dated April 30, 2009 copies of which are attached as
Exhibits “F”.
The Property received final Rezoning by council to R-1D on September 14,
2009. All costs required to be paid by the Township of Langley are paid in
full and the Township of Langley and the Developer have signed a Servicing
Agreement in conjunction with the development plans for the Property.
6.2
Construction Financing
The Developer has obtained financing to finance the construction of all
required servicing and utilities, secured by , inter alia, a mortgage charging
the Property and will be partially discharged from title to each of the Lots
upon the completion of the sale of such Lot to a purchaser and delivery of
the net sales proceeds to the lender.
7.0
Miscellaneous
7.1
Deposits
All deposits and other monies received shall be held in trust in accordance
with the terms of the contract of purchase and sale and the manner required
by the Real Estate Development Marketing Act (the “Act”) until such time as
the subdivision plan is deposited for registration in the appropriate Land
Title Office, the Lot purchased is capable of being transferred, and an
instrument evidencing the interest of the purchaser or lessee in the Lot has
been filed for registration in the appropriate Land Title Office, or the contract
has been earlier terminated.
If the Developer elects to enter into a deposit protection contract, an
amendment to this Disclosure Statement describing the subject matter and
terms of the insurance allowing the Developer to use the deposit money to
develop and market the Development, including details of the aggregate and
per claim limits of the insurance will be filed with the Superintendent of Real
Estate and a copy will be provided to each purchaser. In accordance with
Section 10 of the Regulations to the Act, the amendment will state the name
and business address of the insurer, the name of the developer who entered
hdi-123-DisclosureStatement
-9into the deposit protection contract, and the date on which the insurance
takes effect.
7.2
Purchase Agreement
(1)
A copy of the contract of purchase and sale to be used by the
Developer is attached as Exhibit “D” to this Disclosure Statement.
(2)
If the purchaser has offered an unconditional “No Subject” offer and
that offer has been accepted by the Developer then there are no provisions
in the Purchase Agreement for the purchaser to terminate that purchase
agreement.
(3)
The purchaser does not have the right to any extension or delayed
completion on the purchase. The Developer and purchaser may further
agree to amend the agreement in the future but all amendments will be in
writing and signed by all parties.
(4)
There is no provision for the purchase of this Property to be assigned
to another party within the Purchase Agreement without express written
permission from the Developer allowing such assignment to the other
party(s).
(5)
7.3
No interest will be paid on any funds held or paid as a Deposit.
Developer’s Commitments
The Developer has not made any commitment which must be met after
completion of the sale of a Lot, except as set out elsewhere in this
Disclosure Statement.
7.4
Other Material Facts
(a)
Property Taxes
Each owner will be responsible for the real property taxes applicable
to his or her Lot. Property taxes are assessed by the Provincial
Assessment Authority, and payable to the Township of Langley.
hdi-123-DisclosureStatement
- 10 (b)
Insurance
Each owner will be responsible for insuring all risks and property
within the Lot when the transfer of title from the Developer is
completed. Most purchaser’s would likely have a Comprehensive
Personal Liability Policy to cover the uses upon the Lot or the bulk
portion of the Lot. In addition to holding a standard residential
insurance policy it is recommended that each purchaser obtain a
Comprehensive General Liability Policy to cover the uses upon the
Shared Access Roadway constructed over the pan handle area of lots
2, 3 and 4.
(c)
Geotechnical Assessment Report
Geopacific Consultants Ltd. have prepared a geotechnical report
dated April 15, 2008 to assess the proposed uses for 21726-49A
Avenue. The complete report is attached as Exhibit “E”.
The Developer is not aware of any dangers connected with the
Development in respect of the condition of the soil or subsoil or any
other environmental conditions except as set out and provided for to
the satisfaction of the relevant authorities in the encumbrances or
proposed encumbrances described in Exhibit “C”.
(d)
Schools
Parents may not be able to enrol their children in those schools that
are the closest geographically. Langley School District No. 35 may
from time to time redraw catchment boundaries. Some schools do not
use location of the student’s residence as a selection criteria and
some schools may not have available space due to over-enrollment.
hdi-123-DisclosureStatement
- 11 -
(e)
Adjacent Land Uses
The lands West and Northwest of the Development are currently one
acre properties zoned SR-1 and are currently being used as residential
uses. SR-1 zoning may permit uses that are not considered desirable
by a purchaser. A copy of the SR-1 Zoning is attached as Exhibit “H”.
The lands East and South are existing residential with the same
zoning as being proposed for this Development, R-1D.
(f)
Right of Access by the Developer after Completion
The Buyer/owner agrees to provide the Developer access onto and
over their Lot after the transfer of title is complete, in order to install,
maintain and/or replace any of the landscaping and fencing
components as required by the Township of Langley. Access is to
include access to the water and electricity services and shall be
permitted up until the date the Township of Langley provides a written
final acceptance certificate for all subdivision works. The Developer
agrees to provide advance notice of required access a minimum of 24
hours and access shall be during normal business hours, Monday
through Saturday.
Section 22 of the Real Estate Development Marketing Act provides that every
purchaser who is entitled to receive this Disclosure Statement is deemed to
have relied on any false or misleading statement of material fact contained in
this Disclosure Statement, if any, and any omission to state a material fact.
The developer, its directors and any person who has signed or authorized
the filing of this Disclosure Statement are liable to compensate the
purchaser for any misrepresentation, subject to any defences available
under section 22 of the Act.
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement
EXHIBIT “A”
PROPOSED SUBDIVISION PLAN
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement
hdi-123-DisclosureStatement