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WI-ITBY FREE PRESS, WEDNESDAY, JUNE 6, 1984, PAGE 13 Simpson new Sigma Phi head Speaking j to You By SCOTT FENNELL F >MM(PC - Ontario) Mortgag- aid butl doesn't' solve proble On May 25, twvo bils were finally introduced in the Ho use of Commons by the government, both of which concern homeowners or future homeowners. The first is the long-waited mortgage rate protec- tion plan as outlined in the February budget. The government lias proposed that protection will be available for residential first mortgages to pur- chasers of new and existing homes and to homeowners whose mortgages will be renewed af- ter the implementation of the program. 0f course, this protection will not be without a charge, this being 1% per cent of the face value of a mortgage, with a mortgage ceilinig limit of $70,000. Te protection fee also has a maximum limit of $1,050, which can be added' to the principal amount of the purchaser's mortgage. Without a' doubt, the problems with this legislation are quite visible. Firstly, with the present value of new homes skyrocketing, and price, variation fromn one area to another, the ceiling liniit of $70,000is low. Secondly, the fee Iwiil provide protection. only for the term of the mortgage. In- other words, when a homeowner lias to renew his/her mortgage rate af- ter four or five years he/she will' have to pay another fee for the new term. In addition, this proteçtion wilI not cover ail increases in mortgage rates, only against three-quarters 0of a rate in- crease, and this is after the rate has increased two percentage points. This plan wiIl be retroactive to March 1, and contrary to the advertisements which the government has been pushing in the media, has only just beenintroduced in the House of Commons. The second bil is an act to amend the intereàt act. This act will restrict the penalty that may be charged if a homeowner prepays lis/lier mortgage, and,. the maximum penalty wii be set by regulations. The regulation is stili1 being drafted, but, in effect, the penalty 'would be equal to the amount of money which the bank would lose, when allowmig the mortgagor a lower rate of interest. The government lias succeeded in totaily con- fusing this issue, and I cannot see a lot of homeowners being able to suft through the regulations, let alone understand it. Why the gover- nment couldn't have just amended the present ini- terest act to state that all mortgages at any time could be disdharged with a three montli penalty, is beyond me. As I have said, neither 0f these bUs are sufficient as drafted, and the P.C. Party will be fighting for amendments, for Canadian homeowners, have paid for the governinent's fiscal irresponsibility long Members of Precep- tor Gamma Mu clapter of Beta Sigma Pli celebrated a liappy and successful first year with a dinner May 23, at whicl gifts were ex- clanged between secret sisters. At the. annual Foun- der's Day Dinner two members, Sandra Lugtenburg and Margaret Swain, were named Girls of the Year for their outstanding contributions to the clapter in its first year. The executive slate for 1984-85 las been elected,, and is: Myrna Lou .Simpson, president; Yvette Nelson, vice-president; Joan Mclntyre, recor- ding secretary; Alice Richard, corresponding secretary; anc , Margaret Swain, treasurer. The city council representative will be Myrna Lou Simpson and Linda Craven. Conclusion of the year's activities wiil be a golf tournament for members and husbands to be. held in June. welcoming new mr The clapter is looking bers progressing f forward to beginning a the Exemplar Degrt new year and Preceptor. Sympho ny s ubcriptio ns Subscrlptions are now feature internation availabhe for the acclaimed tenor M~ Oshawa Symphony Or- Dubois and other chestra's 1984/84 known artists. season. Subscriptions Last year's sub- more information seribers have until June available by cailing 30 to renew their seats. symphony's office Next season wiil 579-6711. nem- from ,ee to mally dark well and are the at DEN NUS CLEANERS TAI LORI NG & ALTERATIONS SPECIAL Pants s1,98 Pant Alterations -Hem $3,99 Zipper $4,99 0 SPECIAL OFFER FOR NEW SIPERCHANNELSU13SCIBERSO0 FR E! ONE WHOLE MONTH 0FGREAT SUPRCANELMOVIE NTRIA1NMENT With the "3 months for 2 " Summer Special from Rogers Cable TV! 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N. 433-1164 \~THE CORPORATION 0F THE TOWN OF WHITBY 1984 EDUCATIONAL e TAX NOTICE The thlrd instalment of taxes for 1984 Is due and payabte June 15, 1984. If paymrent is flot received by the due date, penalty wiIl be added on the f irst day of default and the first day of each calendar month so long as non-payment continues, at the rate of11/4 %, per month or-*part thereof. Taxes may be paid at any Whltby bank without bank collection charges or at the Municipal Office, 575 Rossiand Road East, Whitby, Ontario. Corinne Wendt, A.M.C.T.(A), Tax Collector, TOWN 0F WHITBY. fi ~ZJ7 f f - ALSO WE RENT MOVIES VARIETY VIDEO AUTHORIZED DEALER 114 Lupin Drive Blair Park Plaza, Whitby 6611 ROnD) STA*l'E S HAY RIDESQ HUGE-INDOORARENA SUMMER HORSE CAMP AGES 8TO 16 YEARS - BEGINNER TO ADVANÇED SESSIONS A J ULY 3-13 $180 FOR 9 DAYS B JULY 16-27 $200 FOR 10 DAYS C JULY3O-AUG. 10 $180 FOR 9 DAYS D, AUG. 13-24 $200 FOR 10 DAYS 9 A. M. TO 3:3.) P. M. TRANSPORTATION CAN BE ARRANGED FOR FURTHER INFORMATION CONTACT SAN DRA BROWN 686m4641 PROG RAM CO-ORDINATOR x~THE CORPORATION 0F THE TOWN OFWH ITBY IN THE MATTER 0F THE ONTARIO HERITAGE ACT, R.S.O. 1980, c. 337 AND IN THE MATTER 0F THE LANDS AND PREMISES AT THE FOLLOWING MUNICIPAL ADDRESS IN THE PROVINCE 0F ONTARIO NOTICE 0F INTENT TO DESIGNATE, TAKE NOTICE that the Council of the Corporation of the Town of Whitby intends to designate the property, Incîuding lands and buildings1 at the following municipal address as property of ar- chitectural value or Interest under Part 4 of the Ontario Heritage Act, R.S.O. 1980,0c.337. Arthur Archibaîd House 513 Centre Street South Whitby, Ontario REASONS FOR DESIGNATION 0F 513 CENTRE STREET SOUT14 Historical Both the original owner (Arthur Archibaîd) and the architect (S.J. Spaîl) of 513 Centre Street South had Important roles ln Whitby's past. Arthur Ar- chibald was Principal of Whitby High School from 1927 to 1942 and an Inspector of Public Schools for South Ontario County from 1942 to 1959. S.J. Spaîl was Construction Supervisor for the Ontario Psychiatric Hospital and designed a number of ln- stitutional buildings ln the Whitby area. Architectural The Archibaid House is an interesting example of an early 2Oth Century suburban house with Gothic Revival and Tudor Rivival features.> Any person may, before June 29, 1984, send by registered mail *or deliver to the Clerk of the Town 0f Whitby notice of his or her objection to the proposed designation together with a statement of reasons for the objection and ail relevant facts. If such notice of objection is received, the Council 0f the Corporation of the Town of Whitby shaîl refer the matter to the Conservation Review Board for a hearing. DATED at the Town of. Whitby this 3Oth day,0f May, 1984. Michael B. Gazo Deputy Cîerk The Corporation of the Town of Whitby 575 Rossiand Road'East Whitby, Ontario -t 666-1312 1