WHEREAS

(A) By Provincal Lease #K103001 dated as of the 19th day of
September, A.0. 1972, made between The City of Port Coquitlam as
Lessor, and Poco Valley Golf & Country Enterprises Ltd. as
Lessee, the Lessor therein did demise unto the Lessee therein,
the land therein and hereinafter mentioned, for a term of Twenty

(20) years commencing on October 1, 1971.

(8B) By an Assignment of Lease dated the 14th day of July, A.D.,
1978, the Lessee did assign its Interest in the said lease to the
Hortgagor, Carnoustie Recreation and Development Ltd., which said.
assignment was approved by the Lessor on the 14th day of July,

A.O. 19783

(C) The Mortgagor. has applied to the Mortgagee for a loan of ONE
MILLION ($1,000,000.00) DOLLARS, upon the security. of. its sald
leasehold estate and the said term of yeacs, save and except for

the last day of the term thereof, demised by the Lease;

’ WITNESSETH that in consideration of the sum. of. Ten ($10.00)

DOLLARS now pald' by the Mortgagee to the Mortgagor,. the receipt
whereof is hereby acknowledged, the Mortgagor doth demise, lease —

a and mortgage unto the Mortgages, ALL AND SINGULAR that certain

1
i '
parcel or tract of land and premises, situate, lying and being’ in.

the City of Port Coquitlam, in the Province of British Columbia’

and being amore particularly known and described as:

FIRSTLY

Lot "Cc" of

‘Blocks 18 and 19 of

Secticn 5

Block 6 North

Range 1 East

Plan 19371 : ,

Except part subdivided under Plan 22835
New Westminster Olstrict :

SUBJECT 10:

Mortgage in favour of Crown Life Insurance Comoany,.
registered under number U37421;

Assignment of Rents in favour of Crown Life Insurance
Company, registered under number 37422;

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