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The Grantee covenants and agrees to Jischarge this Statutory Right of
Way Agreement from the said lands at such time as the Grantor redevelops the said
lands either: oe

(a) in compliance with the fire access requirements then existing under the
mo Building Code of British Columbia; or

(b) on condition that a replacement Statutory right of way agreement in
substantially this form is granted to, the Grantee over a different right of
way area satisfactory to the Graiitee, acting reasonably.

— PIS MUTUALLY UNDERSTOOD, agreed and declared by and
between the parties hereto that the covenants herein contained shall be covenants
running with the said lands and that none of the covenants herein contained shall be
personal or binding upon the parties hereto, save and except during the Grantor’s
seisin Or Ownership of any interest in the said Statutory Right of Way, and with respect
Only to that portion of the said Statutory Right of Way of which the Grantor shall be
seized or of which_it shall have an interest, but that the_said lands shall, nevertheless,

be and remain at all times charged therewith.

AND THAT, save as aforesaid, nothing in these presents shall be .
interpreted so as to restrict or prevent the Grantor from using the said Statutory Right
of Way in any manner which does not interfere with the security or efficient
functioning of or unobstructed access to the said works.