whatsoever nature, save and except for the reservations and exceptions

contained in the original grant from the Crown.

8. The City Lands and Parcel A shall be at the risk of the
City until and including the Completion Date, and in the event of loss
or damage to the same occurring before such time by reason of tempest,
lightning, earthquake, flood or other Act of God, fire, explosion,
riot, civil commotion, insurrection or war, Shaughnessy, may, at its
Option, cancel this Agreement and shall thereupon be entitled to the
return of any moneys veid hereunder.

9. If the conditions precedent set out in paragraphs 4 and

5 have not been satisfied by the Completion Date, the City or
Shaughnessy, as the case may be, shall, at their option, by notice

in writing to the other, either waive such conditions precedent. and
complete the purchase and sale of the City Lands and Parcel A, or

elect not to complete.

10. Time shall be of the essence of this Offer and of the
Agreement. resulting from ics acceptance.
ll. Each party shall pay their own legal fees and Shaughnessy

shall pay all fees in connection with the registration of the

Sransfer of title to the City Lands and Parcel A. a woe
12. All cocuments required to give elfeccz to the Agreement
resulting from the acceptance of this Offer shall be delivered, in
registrable form,where necessary, and shall be lodged for registration
in an appropriate Land Title Office where necessary, on or before

the Completion Date. Unless otherwise agreed, the glace of

Completion shall be the Land Title Office in which she sroperty is
registered. Any tender of documents or money may be made upon the

13. All of the representations, warranties, guarantees,
Dromises or agreements contained nerein shall survive che Complerion
Date.

. The parties hereto covenant with che other that 2ach

nas che right, ticle, authority and capacity co anter into shis

its

terms