TUE CORPORATION OF THE CITY OF POAT COQUITLAM

TUS ACREMHENT made cho dey of 1a
SEWED

‘TUF CoRroRATION OF Tir CITY OF

TORT CoMuIGLAGL, 3 body corporate

and policte, with offices at

2272 MeAllsatar Avenus, Pore

Cogulclom, Briciah Colunbia,

(hereinafter callad the "City")

OF THE FIRST PART,

(herelnaftar called the "Corporacion™) .
OF THE SECOND PARTs
WIEWEAS the Applicant {s the omer in fee sinple of that
eectain parcel or tract of land and prealees, eftuate lying snd betug in
the Ctry of Yort Coquitlam, Province of Britteh Colustia, and more

percieularly known and described set

Cheretnaleer referred to ae the "veld lande")5

AND MIERFAS the said Jands sra not of sulficiant area te
perest the applicant to provide the off-street parking facdlictes requised
by ths "City of fort Coquitlaa toning By-law, 1979, No, 1652"

AND VIEREAS the Corporation holds and has faproved a parcel of
veal property (hereinafter referred co as the “Parking Facility"), for
the purpose of providing off-atrect porking facilities for tha use of
the public and sald parking Cactitty fs eftuatn within 95 eaters
Lrow the satd land, an required by the “City of Port Coquitiam Zoning
by-law, 1979, No. LOSI" for alsernate parking;

AND WHEREAS tha said Appiicant deatece to provide che required
off-etcect parking for che sald lands within the parking factiity to
aubstitutton for the off-atrece packing upon bis tands, and has mide
application to tha Corporation for poraission to use euch parking fscilisios

and the Corporation has egresd to grant such ues te the form and ro the

po IJufsed to sha provgsfon of pha nunbor of off-utreos parking apace
viphin ghe parking focstgty for vhich ebts Fiche fe pranced.
Fy The Apptjeare ogrces with tha Corporation (A gcceps this eight
subjece fo sha foram and cond}sions pf Section § hersof, and ba be bound
by the sano,
uw Tho Applicants agrees with she Corporation phat $f ac any tine
the Huntclpal Councs) pay deag is expedient Fa recover any costs dacurred
by The Corparatson Jn the operation, maintenance and aanogcment of the
pefoarreet parking factiittes provided psssuant ta eny By-law thea tn
force, the Corporacton sha}} have she unressricred right and Jiberty Fa
¢lose fa the frea use by the public the parking facilinfes ang the
parking epaces herein, and to fix and fa charge fees or rence for the
woe of any parking space in auch perking faciiisy, and pending such
aceion by the Corporation, she Appiicang shal} pay $9 the Corporation
the qua of Seven Dollara Fifty Conts ($7.56) en the firep day ef the
ponth folloving the granting of ite eceupancy permit and on the Ciret
day of each and every month thereafter for gach parking epace.
oy {a) The month}y rentad fee hereindalore eet forgh shad?
rensin $n effect tor a period of five (5) years from the date nf execution
ef Eh{e docuscne and shat} be renegotiated then and a every aubsequens

. Ebvaryoar tnterval thereafter, subject so refecral $0 arbitration under
the Arbigration Act in she event of disagreanent. Tha Corporation *
Jeacrven the right to couse supplyin, the parking spacoe hereinbefore
teferved to and upon the Corporation aa ceasing the requirenont for
paysent of a conthly rented fer shell caase.

(b) Ta the event that the Corporation, pursuant to tae Montespas
Act, abould establish @ 5; ectat bensficing ates to provide of f-esrest
parking for an arca within the City which tneludes the said Jande and
upon which » apectal rate or tan is levied Cor euch purpose, the ponchly
tental paynents by the Applicant ¢o the Corporation for the use of the
parking spaces ae aforesaid shall cease to de payables
i The Applicant sovenants and agrece that the area shown outlined ta
ved an she attached o dased ty: 18) and prepared by
a Mhowlng pho position of Foundation ‘ofa etarey

building and being & partion of ALL AKD BENCULAR thit cercatn paccel or srect
of land and peealece attuare, lying ard boing tn pho Clty of Fore Coquitian, in

(de Provinces of Brition Coluetis and boing more partieularty know and described asf

extont hereinafter provided;

WOM TULAEFORE TTS ACREEHENT WITERSSCTH that fn consideration

of the payacnt of the sua of

now paid by the Applicane to the Corporation, the secelpt of
which fe hereby acknowlcdred, the parties hereto covenant aad agrea each
with the other as Lolloves
1 (a) The Corporation ageees, subjece ty paynent of che foen
aet out in Section 3 hereo!, to grant and does hereby grant to the
Applicant the use of () parking epaces vithin che aforesaid
parking Cactiicy, fn substitution far the sana nuaber of off-street
parking spaces which the sald Applicane is required to provide by the
“City of Port Coquician Zoning By-law, ‘1979, No, 1651% for che building
or structure situate on the aaid Janda of the Appitcane and hereinbefore
defined, and such parking spaces hail be for the (cee use by che public.

(b) Thies right co park shall be valid notwithstanding any
change in the ownership of safd lands, and shall resain attached to tha
eatd lands and provide substantial coapliance with the requirenents of
the “City of Port Coquitian Zoning By-law, 1979, No. 3651" for off-
atrect packing factlistes for the budiding or structure thereon, to the
eame extent and subject to the same Limitations cs though the ssid off
atrect packing Factlities had been provided on the oaid lands, and shall
be aubject to the provisions of clauses Ce) and (e) of thte section,”
provided that the waid fece ace paid,

(c) The perafasion to park hereby granted shall be eubject to
autonacle cancella¢son without refund by the Corporation, if at any tine
during the term thereof, the building of structure on the eaid lands and
for Vitel cuth off-atreet parking hae been provided, is destroyed oF is
reanved frow sald lands and fe nov replaced by another bulidiag or
structure having the sano off-street parking requtresonts, within a
pariod of one (1) year from the date of such destruction of cenovals

(8) The eight to park shall not be construed to convey o¢
Veet any property of rights tn auch parking spaces or real property, ia
tho Applicant or his succassor in title ¢o the seld lands, aor shall the
Applicent bo enticlad to any allocation of apvetfic pasking spaces or ts
any marking thescol indicating thac such apacce have beca authortacd

for his usc, ALS obligations of the Corporation under thte peewtt ohald

Thia pesrcsettve covenant fs geanted by the Azp}icant Fe the
forporation pursuant Fo, Scegton 246A of the band feglatry Ace of the Province
pf Présieh Columbia and shat} run with she Appiicans’s Jand heretnbefare
doperted.

TN WITSESS WIEREOP pho Corperation and the Applisart have herounta
affixed thesy Corporate Seats atcoated by tho hands of shetr duly eathorized
officers the day and year fires above vritcen-

The Corporate Sea} pf THE CORPORA~
T10N OF TRE CITY IP PORT COQUITLAM
was horcunto affised in the presq
‘ence off

(clerk

Tha Corporate Seal of
wes hereunto attized +
in the presence of) °