Lots 6, 7 and 8

Block 2

District Lot. 289

Group 1

Plan 2396 ; ;
New Westminster District; and

Lots 9, 10 and ll

Block 5

District Lot 289

Group 1

Plan 2396

New Westminster District

(the "Adjacent Lands").

4. Shaughnessy is desirous of purchasing the City Lands and

Parcel A from the City and the Adjacent Lands from Reinartz-Lansiquot

Builders Led., in order to consolidate the City Lands with Parcel A

and the Adjacent Lands into a single parcel and tc construct a. twentv-
(25) unit non-profit co-operative townhouse cevelopment thereon

"Proposed Development").

Shaughnessy and the City have entered into negotiations
respect to the Proposed Development and the City has given
tentative approval of the Proposed Development on the basis

and specifications submitted by Shaughnessy to date.

NOW THEREFORE THIS AGREEMENT “WITNESSETH:

fifters to ourchase from

ali the right,
Lands and Parcei A for a purchase price of TWO HUNDRED THIRTY-SEVEN

THOUSAND SEVEN HUNDRED SIXTY EIGHT ($237,768.00) DOLLARS (the “Purchase

rice") and upon the terms and conditions nereinafter se

e 2aid and che salsa

1982 (the “Completion

All adjustments of incomings and outgoings shall
as of the Completion Date, and Shaughnessy shall, upo
of the sale and purchase, nave possession of

A on the Completion Date.

The obligations of

City Lands to Shaughnessy shall