}

NF Rettig asta tN Zuat

PREP RA AY EA Cone MN we

B. The Purchaser wishes to purchase and develop the Lands;

c. The Vendor wishes to ensure that the development of the
Lands proceeds in accordance with its plans and policies;

D. The Vendor has agreed to sell to the Purchaser and the
Purchaser has agreed to purchase from the Vendor and develop the

Lands on certain terms and conditions to ensure that the

“Carnoustie Golf Course" is @eveloped in an appropriate manner,

WITNESSETH that the parties agree as follows:

Le The Vendor shall ‘sell and the’ Purchaser shall buy ALL

AND SINGULAR that certain Parcel or tract of land and premises
Situate in the City and described as:

Let 21

eee PM

Section 5

Block 6 North

Range 1 East

New Westminster District
Plan

together with all buildings, fixtures, commons, ways, profits,
privileges, ‘rights, easements: and appurtenances to the: said

"hereditaments - belonging,. Ox ‘with the same or any part thereof,
‘held of enjoyed, “or appurtenant thereto and. all the estate,.

xight, title, interest, Property, claim and-demand of the Vendor

in, to, or upon the lands and premises (which together are herein
Called the “Lands") for the price of $300,000.00 of lawful money
of Canada, Payable in the manner and on the days and times.
hereinafter mentioned, that is: to say: the sum of $75,000.00 on -
‘the execution of this Agreement. (of which any deposit paid by ‘the © |
Purchaser to the Vendor shall form a part and the receipt whereof

is hereby acknowledged by the Vendor), andthe balance of the
purchase price shall become due and be paid as follows:

The balance of $225,006.00, together with interest thereon
‘at the rate of 14% per annum (compounded semi-annually with
a 25 year amortization period), computed from Pebruary 7,

1983 on so much of the Said balance as shall from time to
time remain unpaid, as well after if before maturity payable

as follows: