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Rainbow Ranche Collection

Agreement between The Rainbow Ranche Limited and Walter Sukeroff June 3, 1949 Rainbow Ranche Jun 3, 1949

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 DATED      3rd    JUNE      A.D..    19^9.
i
THE RAINBOW RANCHE LIMITED
and
WALTER SUKEROFF
1
I
AGREEMENT
W-''
FILLMORE &  HAYMAN
BARRISTERS &  SOLICITORS
KELOWNA  B.C. o2oA?. X7.#e£
THIS AGREEMENT iiade in triplicate as of th© 3rd day of
June in the year of Oar Lord One Thousand Nine Hundred and Forty-
nine.
.4>
BETWEEN*
Mj RAipy MfflS .ItfMlfr? • company
duly Incorporated under the laws of th©
Province of British Columbia and having
its chief place of business at Okanagan
Centre la ta© said Province,
(hereinafter called the w Vendor")
of th© FIRST PART,
AND:
MmM.iMMMt  former, of 1. R. Not 1
Kelowna in th© said Province,
(hereinafter called the "Purchaser**),
of th© SECOND PART.
TOEREAS th© Vendor has agreed to sell to th© Purchaser and
the Purchaser has agreed to purchase of and from the Vendor th©
lands and hereditaments hereinafter mentioned, that is to say*-
ALL AND SINGULAR that certain parcel or tract of land and premises
situate, lying and being in the Vernon Assessment District in the
Province of British Columbia, and more particularly xnown and
described as Lot Eight (8), Map Four thousand two hundred and
thirteen (H213)j TOGETHER with all th© privileges and appurtenance^
thereto belonging at or for th© prlc© or sum of Ten Thousand
($10,000,00) Dollars of lawful money of Canada payable in th©
manner and on th© days and times hereinafter mentioned, that is
to say*-
(a) The sum of Two thousand ($2,000.00) Dollars on or before
the ©xeeution of this Agreement and the sum of Two Thousand
($2,000,00) Dollars on or before the 30th day of July, 19*+9f
(b) Th© sum of Six Thousand ($6,000.00) Dollars and interest
th©r®on as hereinafter provided by the payment to the Vendor
or its order of forty-five per cent (k5$)  of the gross proceeds
froa th© sale of th© whole of the crap of the different kinds
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and qualities which shall b© grown on th© said lands in th©
year 19**9* and forty per ©eat (*tO_l) of such gross proceeds
in respect of such crops of later years, until full payment
of the said sum plus Interest as aforesaid, such payments
to b© applied first in payment of interest and any other sua
then du© hereunder, and secondly in reduction of the balance
of such price then owing; such balance of $10,000,00 to be
paid in any ©vent by not later than th© 3rd day of June, 19%?
Tog©th©r with interest at th© rat© of six p®r cent (6$) p®r
annum on th© balances from time to time owing payable on or
before the 3rd day of Jun© in each and ©very year, commencing
Jwm 3rd, 19$0f provided that th© Purchaser aay at any time
and from tim© to time pr«pay all or any part of th© balance
then owing without notic© or bonus.
For the purposes of this Agreement "gross proceeds" shalpl
moan th© gross proceeds received froa th© sale of th© whole
of th© crop as ©foresaid (including, without limiting th©
generality of the foregoing, not only th© proceeds of the sail©
but any sums paid to the Purchaser with respect to any part of
such crop damaged or not picked, or because of th© deficiency
of th® crop in one year, being the year 19**9 o^ later, with
relation to other years), less packing, handling and selling
cos|s, and British Columbia Fruit Board or other similar
levies, but not less any capital deductions aad© by any
packing-house concerned.
NOW IT IS HEREBY AGREED by th© Parties hereto in th© manner
following, that is to says- The Purchaser DOTH PROMISE COVENANT
AID AGUE to and with th© Vendor that h© will well and truly pay
or cause to b@ paid to the Vendor the sum of money above mentioned
together with the interest thereon at th© rat© aforesaid both before
and after maturity and on the days and tim©s and in the manner her|e-
in mentioned, all sums In arrear for interest from time to tim©
shall bear interest at th© rat© aforesaid from du© dat© until payment; and also shall, and will pay and discharge all land and water - 3 -
taxes, tolls, rates and assessments wherewith the said land is now!
or may b@ rated or charged in respect of ths period from and after!
th© date hereof, whether already or hereoftar assessed.
THE Purchaser shall be permitted to occupy and enjoy th© said!
lands and premises until default be mad© in th© proper performance!
and fulfilment of any covenant or agreement for th© payment of
money or otherwise herein contained and on the part of th® Purchas|®r
to be performed or fulfilled, subject nevertheless to impeachment
for voluntary or permissive waste,
THE PURCHASE! FURTHER COVENANTS AND AGREES to give to th©
Vendor a crop order or crop orders assigning to it forty*fiv©
per cent {k$$)  of th© gross proceeds as aforesaid from the sal®
of th© whole of th© crop as aforesaid produced upon th© said lands!
In th© year l$*$ and forty per c©nt (**C$) thereof in respect of
later years and wall© any sum remains owing hereunder, directed
to the person, firm or corporation through or to whom or which the)
said crop or any part thereof shall be marketed, sold or disposed
of, and to any other person, firm or corporation from whom any
part of the proceeds shall become payable to th© Purchaser.  Such]
crop orders shall be given at th© beginning of each season in
priority to all other orders charges or assignments, and th©
Purchaser will execute and deliver such farther assignment, ordersj
or assurances as th® Vendor aay from tim© to time reasonably
requir© in order to glv© th® Vendor a first lien or charge on all
such proceeds to th© full intent h©r©of, and th© Purchaser hereby
assigns to th© Vendor such forty-five {k^)  share in respect of
the l$h$ crop and forty p®r cent (**0$) share in respect of later
crops of the gross proceeds of the said crops as aforesaid while
any sums remain owing hereunder, and hereby Irrevocably appoints
th© Vendor his agent and attorney to execute and deliver on the
Purchaser*s behalf and in his nam© all such crop orders*   It is
agreed however that, notwithstanding th© foregoing, th© crop order!
or orders in each year in favour of th© Vendor shall not requir©
to be paid in full prior to any payment to th© Purchaser in r@spee£
of his share of the proceeds, but that th© Vendor shall receive # h  *
on account of his crop order for such year not less than forty-
five per cent (h%)  in respect of th© 19^9 crop and forty per eent|
(kO$)  in respect of later crops of each payment on account of
crop proceeds froa time to tim® paid or credited by th® parson,
firm or corporation througJb or to whom such crop or any part
thereof shall have been marketed, sold or disposed of, or from
whoa any part of such proceeds shall become payable.
IT IS F0RXHBB AGREED that th© packing, or handling and
aarkating of the 19^9 crops from th© said lands shall be don© by
or through th© Vernon Fruit Union, whose head office is at Vernon, j
British Columbia.
THE PURCHASER FURTHER COVENANTS AND AGREES with the Vendor
that the Purchaser will during th© term of this Agreement cultlvatie,
till, fertilise and employ the whole of th© said lands and premises
in a good husbandman Ilk© and proper manner and will keep down alii
noxious weeds as defined by th© Noxious Weeds Act of th© Province
of British Columbia*   And will carefully protect and preserve ©1|L
orchard, fruit, shade and ornamental trees which ar© now or may
hereafter b© planted on the said lands from waste, injury or destruction, and will carefully cultivate, irrigate, fertilize, crop,
prune, spray and car© for such land and trees in aeeordanc® with
th© requirements of good farming operation of th© district in which
th© said lands are situate and will conform to all requirements by
law with respect thereto, and will not allow any horses, cattle or
sheep or any field pests to have access to such trees on th© premises
and will not allow manure or fertilizer to b© paced or 11© againstj
the buildings on th® said premises,
THE Purchaser wiH repair, clean out and keep clean and in a
good state of repair all irrigation ditches and flumes and will do!
all irrigating work required, using th© Irrigating water as a car©J
ful husbandman would us© th© same In Irrigating crops of Ilk© naturi
planted in lik© soil, such irrigation to be carried on at th© Pur-|
chaser's own expense in the most approved manner so that no injury|
shall b© don© to the said lands or to any adjoining lands and if - 5 -
any such injury is don© than th© Purchas©r shall indemnify and
save harmless th© Vendor of and from all claims and dsmag@s arising
therefrom, but nothing herein contained shall b© construed as a
warranty or covenant as to th© quantity m* sufficiency of water
available for th® said lands,
AND THE PURCHAflR FURTHER AGREES that h© will adjust land
and water taxes and rates as at th© dat® hereof and, prior to th©
same becoming delinquent or in arrears or to any penalty or interest
being added to the same for non-payment, in each &a&  every year
after 19^9 pay and produc© to th© Vendor a receipt or receipts fojp
th© payment of all land and water taxes, tolls, rates and assessments upon th© said land for th© current y©ar m&  in default of his
doing so the Vendor may pay any of th© same and in case such payment or payments shall b© or are mad© by th© Vendor th© amount or
amounts so paid together with all costs and expenses incurred in
connection therewith as between Solicitor and client shall be
added to th© amount unpaid hereunder and shall bear Interest at th©
rat© aforesaid from the tim© of such payment and shall b© payable
forthwith•
THE PURCHASER shall during th© continuance of this Agreement
and so long as any money remains unpaid hereunder, insure and keep!
insured against loss or damag© by fir© all buildings (if any) now
on the said lands, or which may b© hereafter ©rected thereon, in tty©
sum of their full insurable value with sea© insurance company not
objected to by th© Vendor, and will pay all premiums and sums of
money necessary for such purpose as th© same shall become du©, and
will assign, transfer and deliver over to th© Vendor th© policy or!
policies of insurance, receipt or receipts, thereto pertaining, and
if th© Vendor shall pay all premiums or sums of money for insurancf
of th© said premises, or any part thereof, the amount of such payments shall b© added to th© amount unpaid hereunder and shall bear
interest at th© rat© aforosaid froa th© tia© thereof and shall be
payable forthwith.
IN CONSIDERATION WHEREOF, and on payment of th© said am of
mon@y with interest thereon as ©foresaid, the Vendor DOTH COVENANT • 6 -
fHOMlSE AND AGREE to and with th® Purchaser to convey and assure
or caus© to b© conveyed and assured to th© Purchaser by a good and
sufficient deed in fee simple, ALL THAT th© said piece or parcel
of land above described, together with th® appurtenances th®r©to belonging or appertaining FREED AND DISCHARGED FROM ALL ENCUMBRANCES
sav© and except land and water tax@s, tolls, rates and assessments
In respect of th® period from and after th© dat© hereof, and
subject to th© conditions and reservations in th© original grant
thereof from th© Crown, and such deed shall b© prepared at the
expense of th© Purchaser, and shall contain th© usual statutory
covenants, but the Vendor shall not b© required to furnish any
abstract of title or proof or ©vid©nc© of titl©, or any deeds, papers
or documents or copies of any deeds, papers or documents relating
to th© said property oth@r than thos© which are now in possession
of th© Vendor, sav© and ©xe©pt the Certificate of Title which shaljL
b© deposited in th© Land Registry Office by th© Vendor,
NOTWITHSTANDING anything herein elsewhere contained and in
addition to any other rights herein provided, it is agreed that in
th© event of default being mad® by th® Purchaser in th© proper
performance or fulfilment of any of the covenants and agreements
for th© payment of monoy or otherwise in this Agreement contained
on th© part of the Purchaser to b© performed or fulfilled, th©
whole purchase money at th© option of th© Vendor shall without
notice Immedlately become du© and b© payabl© ia cash*
AND IT IS EIPRESSLY AGREED that should th© Purchaser fall in
th© proper performance or fulfilment of any of th© covenants in
this Agreement contained en th© part of th© Purchaser to b© performed or fulfilled, th© Vendor may, at his option, ©nt@r upon the
said lands or elsewhere and do, or hav© don©, all such things as
may be proper or requisite to ©nsur© and effect the full and complete fulfilment and performanc© of th© said covenants and agreements, and all reasonable costs and ©xpensas which shall be payabjL©
by th© Vendor in so doing shall b© chargeable to the Purchaser and
shall b© payabl© forthwith by th© Purchaser to th© Vendor, and untfil * 7*
paid shall be a charge upon th© said lands in th© same manner and [to
the same extent as th© purchase mtm®ys  owing h©r©und©r and shall
bear Interest until paid as hereinafter provided,
AND IT IS EXPRESSLY AGREED that th© tim© is to be considered
th© essence of this Agreement,  Unless th© payments herein
provided to b® aad© by th© Purchaser ar© punctually mad© at the
time and in th© msjunsr herein provided and th© stipulations, covenants, provisos and agr©@a©nts on th© part of the Purchaser her©in
contained ar© duly p©rform©d and fulfilled, and as oft@n as any
default shall happen in making such payments or in the du© perf ormanc© and fulfilment of any of such stipulations, covenants, provisos and agreements, the Vendor may give th© Purchaser thirty
days' notice in writing demanding payment and/or rectification
of such other default, and in case any default shall continue;
these presents shall, at th© expiration of such notice, b® null aac
void and of no effect, and th© Vendor shall have th© right to reenter upon and take possession of ths said land and premises; and
in such ©v©at any amount paid on account of th© price thereof shall
b© retained by th® Vendor as liquidated and ascertained damages
for th® non-fulfilment of this Agreement to purchase the said land
aad pay th® price thereof, and on such default as aforesaid th©
Vendor shall have th© right to sell and convey th© said land and
preaises to any purchaser thereof.
It is understood that th© reaedies provided abov© ar© alternative r©m©dl@s aad that exercise of on© such rm&dy shall not pr®-
Judlce th© right of th© Vendor to exercise any other such remedy
in r©sp©ct of any subsequent failure, and th© fact that th© Vendor
shall not proceed to enforce any of such r©a©dl©s in th© ©went of
a failure on th© part of the Purchaser shall not b© d@©a©d condonation of, or prejudicial to th© right of th© Vendor to proceed
to ©nforc© any of such remedies in th© ©v©nt of any subsequent
similar or other failure on th© part of the Purchaser, and that the
said remedies ar© in addition to any other remedies or rights in
this Agreement provided or arising by operation ^t law and may b©
resorted to in addition to or alternatively to any such other r@a®di®s - 8 * .
or rights,
AND IT IS HEBKS? DECLARES that any demand or notice which may
b© required for the purposes of these presents, or any of them,
shall be well and sufficiently given if delivered to th© Purchaser
or mailed at any Post Office, under registered cover, addressed as
follows t
Mr. Waltar Sukeroff,
R, R, Not 1,
Kelowna, B, C.
or at such other address as the Purchaser shall specify in writing
to th© Vendor,
THE VENDOR or its agent shall have th® right at any tim© and
at all times during th© term of this Agreement to ©nt©r upon th©
said lands and premises for th© purpose of inspecting th© same or
th© working thereof.
No assignment of this Agreement by the Purchaser shall b© valiid
unless th© sam© shall be for th© ©n_fcir® interest of th® Purchaser
and
shall b© approved (which approval shall not b© unreasonably withheld) by th© Vendor and no agreement or conditions or relations
between the Purchaser and his assigns or any ©th®r person acquiring
title or interest from or through th© Purchaser shall preclude th©
Vender from th© right to convey th© premises to the said Purchaser
on th© payment of the unpaid portion of th© purchase money which
may b© du© hereunder, unless such assignment b© approved and countersigned by th© Vendor as aforesaid and thes© conditions shall not in
any way b© affected or charged by th© Vendor receiving payment of
any portion of such purchase money froa any assign®® not approved
as aforesaid*
AND IT IS EXPRESSLY AGREED between the Parties h®r©to that all
grants, covenants, provisos and agreements, rights, powers, privileges and liabilities contained in this Agreement shall, except as
herein otherwise provided, b© read and hold as aad© by and with,
granted to and Imposod upon th© resp®ctiv© parties h©r©to and their
respective heirs, executors, administrators, successors and assigns,
th® sam© as if th© words heirs, executors, administrators, successors
and assigns had been inscribed in all proper and necessary places; *4H
end wherever th® singular or th© masculine pronoun is used, th®
same shall b® construed as meaning th® plural or feminine or th©
body politic or corporate wh®r® th® context or th© parties hereto
so require, and the covenants and agreements herein of th© persons
referred to above as "Purchaser" shall b® deemed to be several as
well as joint. In th© ©vent of this Agr©ea®nt being registered
and in th© ©vent of default being mad® in any payment or in resp@c(t
of any of th® covenants herein contained, whether befor© or after
such registration, it is expressly agfeed that th© Vendor shall b®
at liberty to cancel, r©aov© and determine such registration or production to th© Registrar of Land Titles of a satisfactory declaration that such default has occurred and is then continuing,
AND THE fUKCHASEl hereby Irrevocably appoints th© Vendor his
true w,M  lawful attorney for and in th® nam© of th© Purchaser to
cancel, reaov* and determine such registration in th© ©vent of
default as aforesaid.
V"'  "TV.     -REOF the said Parties to thes© presents have.
hereunto set their haxfe and seals th© day and year first above
written.
SIGNED, SEALED and DELIVERED )
In th© presenc© ofl  »  )
^.u-tJs^fe
/%®AA&t
**VY
^%&rpt W.SUKEROFF INTEREST ACCOUNT AS AT JUNE 3rd. 195©
to Sept 7/49
t® Sept 25/49
Sept 25/49 t© Oct. 8/49
Oct 8/49  to Oct.27/49
Oct 27/49 t® Nev. 10/49
Nev. 10/49 t® Dec. 6/49
Dec. 6/49 t® Dec, 16/49
Dec. 16/49 to Mar. 27/50
Mar. 27/50 to Apr. 17/50
Apr. 17/50 to June 3/50
June 3/49
Sept 7/49
18,000.00 less 11,671.50
8,000.00    fer 96 days 0 6%   $ 126.25
6,328.50
6,273.29
6,267.49
6,142.21
S,£48.92
5,612.55
5.586.57
5,460.86
n
55.21
5.80
125.28
293.29
236.37
25.98
125.71
36.95
$ 2,576.09
6,328.50
6,273.29
6,267.49
6,142.21
5,848.92
5,612.55
5,586.57
5,460.86
5,423.95
18
13
19
14
26
10
101
21
47
365
II
If If
if ?!
tf ft
it tf
ft ft
if tt
tt tt
M ft
18.72
13.46
19.57
14.14
25oOO
9.23
92.75
18.58
41.91
$ 379.61
Balance as at Juae 3/49
Crop payments t® Juae 3/50   $2,576.09
LESS Interest due as at June 3/50    ^.79.61
Balance as at June 3/50
(a*aI /^$^^A-r%^ ; 0 y.9 e^t rp r K 3_£ i
/^£j_*A__fcU fr^XuUl K& »^^-AxL^/t^)%S>"C
$8,000.00
2,196.48
-
$ 5,803.52 LAND  REGISTRY ACT.
FORM Q.    (Section 59.)
For the Secretary (or other Officer) of a Corporation.
I HEEEBY CERTIFY that, on the <..?...r7.. day of  June... , 19   49?
at Kelowna , in the Province of British Colmkla..,
 .J^e.s...Go.ldie [MfflSflffiPS^^^
... , vS©S^] personally known to me,
appeared before me and acknowledged to me that he is the.-DirB^tor.. of The .B.S.inb0W
 _^^.?_ft®...I»iffii5J©M , and that he is the person who subscribed his name to
the annexed instrument as Mre.et.O.r. of the said T.h#...R.aiab.QW...Ran.Cha..limited
&nd affixed the seal of %e B&inb0W_ R.^Che..LimitM to the said instrument, that he was
first duly authorized to subscribe his name as aforesaid, and affix the said seal to the said instrument,
and that such Corporation is legally entitled to hold and dispose of land in the Province of British
Columbia.
IN TESTIMONY whereof I have hereunto set my hand and Seal of Office at
 Kelg\m.a.t.3.9.Q.9....... , this L*..7T day of
 .JUttS. , in the year of our Lord one thousand nine hundred
and rorty-nine.®
 A Commissioner for3*&ffi*Ma MIMfffiits wlthln
Note.—Where the person making the acknowledgment is personally known to the officer taking the same, strike out the words in
brackets.
8M-625-1380

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