NOW THEREFORE the vpartiaes hereto agree that
Consideration of the payment Dy the City to the Developer of
receipt of which ig acknowledged ang the mutual covenants
terms herein, the Partias agree ag followa:

The Developer o92668 that it shall Construct all of
Chelsea Avenue contiguous with its Proposed subdivision

of:

Lot 1
Section 7

Townshic 40

New Westminster Cistrictr
Plan 74406

(the "Lands")

28 shown on the craft plan of subdivision attached
herato and maxked Schedule "A", to the standards and
specifications set out in the City's Subdivision
Servicing Bylaw, ~987, No, 2241 within days of
approval of a Clan of Subdivision in “GSpect of «hp

lands.

The Developer agrees to: remove and [Op
marked for Temoval and topping respectively by
City's Parks and Recreation Department within the
Property to the horen of the Lands shown on Scheduie
"A" within One month from Marking hy the City's

and Recreation DOspartmenc,

The Déevelopar “grees to provide the City a letter of
credit in the amount of security for

& to call upon and utilize
in the reasonable opinion of
in default hereunder.