FELLER, ANSTEY, MEYER & MALEDY H. DEL FELLER

KEVIN T. ANSTEY
J. CHRISTOPHER MEYER
BARRISTERS & SOLICITORS : Ri. W. MCQUARRIE (1976) TIMOTHY J. MALEDY

202 - 1070 Ridgeway Avenue / Coquitlam, B.C. V3U 187 / (604) 939-6661

26, 1979

of Port Coquitlam
McAllister Avenue
Coquitlam, B.C.

Sirs:

We are the solicitors for Arthur Edwardson.

Further to the proposed purchase by our client from Texaco
of 2270 Lougheed Highway, Port Coquitlam, B.C., more
particularly known and described as:

Lot 43, Block 5, District Lot 464, Group 1
Plan 21271, New Westminster District

we have been instructed by our client to prepare and present
to you an Option to Purchase granting yourselves an option
to purchase a certain portion of the premises. We therefore
now enclose the original and two copies of an Option to
Purchase properly executed by our client.

We have been instructed by our client to advise you that he
has arrived at the Option price as follows. We understand
that the appraised value of the entire property is $64,000.00
and that the value per square foot is therefore $5.96. We
understand further that the area required by yourselves is
3,957 square feet which should come to $23,583.72. Our client
however has instructed us to reduce price to $15,000.00 a
reduction of $8,583.72.

Our client has further instructed us to advise you that he
has caused the Option Agreement to be prepared and has
executed the same without any knowledge or experience in
matters of expropriation but feels that common sence dictates
that should you pursue the course of expropriation, the cost
would be more and he therefore feels that this may well be a
satisfactory solution of the problem to yourselves.

We would also point out to you that to date, Mr. Edwardson has
not removed all of the conditions contained in the Interim
Agreement attached to the Option Agreement, but that he has
extended the Closing Date with respect to the purchase of the
property.

° e . 2
Offices Also Located At:
P.O. Box 12529/930 Oceanic Plaza/1066 West Hastings Street/Vancouvor, B.C. VGE 3X1/ Telophone (604) 689-2626
1 +2311 Whyte Avonue/ Port Coquitlam, B.C. V3C 2A3/Telophone (604) 941-6244