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Mackenzgrm Murpy

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VANCOUVER, CANADA VIX IGG

October 5, 1388

VIA FAX | CITY OF PORT COQUITLAM
— | ENGINEERING DEPT.

Tony Chong, P, Eng.
City Engineer

City Hail

Port Coquitiam, B.C.
V3C 2A8

Dear Tony:

Our File No. 1929

|
Re: South Mary Hill Road Development)

I. SUMMARY

Further to the request of the City's Deputy City
Adininistrator, this letter provides an overview of our review of
the documents in this matter and the anticipated procedure for
completion. We confirm that wa have reviewed and are satisfied
from a legal point of view with the main agreement, the covenants
we have prepared, the options to purchase and the varioug rights
of way prepared as part of this development.

In essence, the rights and obligations of the parties
are reflected in the Main Agreement and that agreement has now
been completed, taking into account the cencerns of the City’s
Department Heads. From aA contractual point of view, the
agreement does cbhligate Western Mexrtgage to perferm the

get out in that agreement. We have removed the

rovisions in earlier drafts and so that in the event

Western Mortgage would still he contractually

liable if there was a failure to comply with requirements in the
main agreament.

It. SERVICING

The servicing aspects of the agreement have been

Satisfied through a bank quarantee, aid servicing
agreement for phase one "no building®
Section 215 Covenant of the land
affected which indir gage or any
g aspects of the

Opment. As well,

of course, ng Officer's discretion for
later phages,

ar

ACT = FOR 1:2 Hs ET RE