7 Maple Avenue and 161 Beckwith Street North, Smith Falls, Ontario

Hammer & Nails Developments Ltd., through its Maple Street and Beckwith Street entities, has been under court-appointed receivership since May 16, 2025 in respect of 7 Maple Avenue and 161 Beckwith Street North, Smith Falls, Ontario. First Source Financial Management Inc. and First Source Mortgage Corporation, holding a first-ranking charge on the Maple property and a second-ranking charge on Beckwith, put loan indebtedness at $11,892,760.64 as at March 20, 2025, plus $5,000 in legal costs and per diem interest of $5,476.56 to March 31, 2025, rising to $5,622.60 daily from April 1, 2025; the Maple loan matured unpaid on February 8, 2025, triggering cross-default across all First Source security. Caisse Desjardins Ontario Credit Union Inc. ranks first on Beckwith, at $4,601,153.25 as at June 29, 2026 plus $533.57 per diem, and proceeds of the Beckwith transaction will not repay it in full. Four construction liens are registered against the Maple property.