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Jack Haggarty
President

Enclosure

352553 B.C. LTD.

Suite 530

800 West Pender Street
Vancouver, B.C. V6C 2V6
(604) 681-3674

August 18, 1989

R.A. Freeman :
City Clerk.

Port Coquitlam City Hall

2280 Shaughnessy Street

Port Coquitlam, B.C. .

V3C 2A8

Dear Sirs:

Re: Tender for
1408 Chelsea Avenue Property

We enclose our money order in the amount of Five Thousand Dollars ($5,000) Lae
representing the required tender deposit for the above captioned property.

The terms and conditions of our bid are as follows:

Bid Price Five Million Eight Hundred seventy-six Thousand Eight
Hundred Dollars ($5,876,800).

Rezoning Subject The offer is subject to rezoning the property to
Single family small lot residential (RS-2) in

accordance with the preliminary plan attached as
Schedule "A",

Closing Date

The full balance of the purchase price and the
completion of the sale would take place fifteen days

after the zoning amendment bylaw for the property has
been adopted.

Yours truly,

352553 B.C. LTD.