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NOW THEREFORE in consideration of the premises
contained herein and the sum of One ($1.00) Dollar, now paid by
the City to the Grantor, the receipt and sufficiency whereof is
hereby acknowledged, the Grantor covenants as follows:

1. The Grantor covenants and agrees with the City that it
shall not use the Lands or build, place or erect, or permit the
building, placement or erection of any building, structure or
thing on the Lands, except in accordance with the following

terms:

the lowermost portion of any floor area of a
building on the Lands, as certified by a B.C. Land
Surveyor, shall be above the highest point of any
road adjacent or contiguous to the Lands;

all rear yard drainage and grading shall be
substantially complete and certified by the
Grantor's Building Guideline Consultant and to the
City's satisfaction, prior to occupancy of any

building on the Lands;

no unauthorized fill shall be placed and no
retaining walls or structures of any nature or
kind shall be built, placed or erected on, in,
under or over any utility rights of way in a rear.

yard;