ang

Lots 47, 48, 49, 50 an@ Lot BE (077145),
auGept parts on Plan 79296 and

Lots 44, 45 and 46,

ali o£ Diatrict Lots 168 and 149,

Group i,

Pian 2261,

Naw Weatminater District

which lands ate referrcad to in the Main Agreeriant and herein as
ene *"Lande®;

B. The Assignor and the City entered into a further
agreement (the "Modification of Main Agreement") made 4s of the
"eh day of November, 1988 to madify the Original Main Agreement;

on The Agsignor granted the Asgsignea an option to purchase
rhe lands pursuant to an agreement made the Lath day af November,
1988 (the "Option to Purchase"); and

D. Thea Assignee intends te azercise its option to purchase
the lenda pursuant to the Option ¢o Purchase, and the Assignor
wishes to assign to the Assignee ag of the Completion Date all the
penegit and burden of the Main Agreement and certain other
agreements affecting the Lands on tha tarms set out herein.

NOW THEREFORE THIS AGSIGNMENT WITNESSES that, in consideration of
the premises and the sum of Ten ($10.00) Dollars now paid by the

Agsignes cto the Agssignor (the receipt and sufficiency of which is
ptt ptd acknowledged by the Asaignor), the parties hereto agree as
olilewas

1. The following terms will have the following meanings
unless the Mein Agreement, the subject matter or the context
otherwise requires:

(a) “Agreements” means she Main Agreement, the Road Purchase
Order, the Sewer Agreement and the Servicing Agreement;

(b) “Completion Date” means the date on which the sale of
the lands by the Assignor to the Assignee is completed;

(c) “Permits” means the permits, if any, issued by the city
to the Assigner with respect to the development of the
anad }

(4) “Leteer of Credit“ means the Irrevocable Bank Guarantee
(No. 69-050-88), dated October 3, 1988, iasued by the
Bank of British Columbia (a copy of which ia attachsd
hereto az Schedule “A°);

“Main Agreement" meang the Original Main Agreement, as
modified by the Modification of Main Agreement, and ali

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