Title on the completion date shali be free and clear of all encumbrances
except that it may still be registered in the Agricultural Land Reserve.
After acceptance of this offer, the Vendor shall apply for and diligently
pursue an application to remove the said lands from the Agricultural Land
Reserve.

Tne Completion, Possessicn, and Adjustment Date for the purchase shall be
fifteen business days after the date the purchaser delivers to the Vendor
the Notice of Waiver of the condition in Paragraph 5B but not later than
gune ¢<ist, 1991.

Time shall be of the essence with respect to this offer and the agreement
formed by the verxior's acceptance of same.

After the date of acceptance, the Purchaser shall have continuing access
to the lands prior to the Completion Date at its own risk to conduct those
surveys and engineering assessments and tests necessary for its intended
development.

This offer is open for acceptance by the Vendor until 4:00 P.M. Friday, July
20, 1990.

Purchaser: } 5
WITNESS FA

ADERA EQUITIES INC.

Vendor:
Vendor's acceptance is dated

ITEM