SENT BY! MackENZIE MURDY s11~ 4-38 1) 23M 3 E85 4643524;4 3 ~

Tha Kain Agraewonc shall be amended by:

adding in the £ifth lina ef Section 2.1.2 after che word "Agreeasne”
tha werda:

fang, in any avent, shall be discharged sgainst any parcel within a
phase upon isavance by the City of a buliding parmit for conatrucsion
of a residential building on such pareel";

adding the following as Section 3.1.7:

"3.1.7 Tha Developer may asaign ita rights under chia Article 3 te
any mortguges of all or any pace of tha Lands, including,
without ilaitation, the right to enferea any demand under
Section 3.1.3 againat the City and the right to recsive che
payments unday Section 3.1.5. Sush aseigrment shail ba
effective notwithstanding that the person who assignad its
sights te such moxtgagee may ba differen: than the person o¢
porsona whe, sa auccesscrs or assigns, pay of are liable to
pay the park developments cost charges out of which the
payments under Seetion 3.1.5 area te be funded. Tha GLty
shall acknowledge any such asaignment and the existence of
excy priory unseleased assignment. In thie Article 3, "park
davelopmant cost charges" and "development cogt charges”
rafer to the development cost charges authorized undar
Saction 983(2)(b) ef the Municipal Act and Bylaw No. 1652 of
the City, which park devealopmenc cest chargas, as of the
date of this Agraemens, are $800.00 for each new dwelling
unit ta be conseructed.”: and

aiding the following az Section 9,3:

"9.3 Tha City and the Developer agrea that all ths resezietions
contained tn each DCBS referred to in Sections 9.1 and 9.2
ghall be of no further foree and affect and each aush DCB3
eheil expire with respece to, and shall ba discharged frem
eitls of, any parcel of land within a phase against which
such DCBS Ls registered upon the earlier of:

fo) a date one year after iesuance by the City of an
pecupancy permit far the tha first residential building
eo be conaeructed on euch pareel: and

(b) the dace which ia five years after che date of deposit
4n the Land Title Office of the eubdivision plen
ervating sueh perce] within a phase.

Tha Bevelopar may modify sach such DCBS to incorporate tha
provisions of chia Seation 9.3.”

2. This Agseoment shall from the dete hereef be read and conscrusé
aleng with the Main Agresment and tha Main Agreement, aa amended hereby,
shail continue in full force ond affects.

IN WITNESS WHEREOF the parties hereto havea axecutad this Agreazent
a2 of the day and year first above writtan.

Tha Corperata Seal of
WESTERN MORTGAGE DEVELOPHERT
CORPORATION was hereunta
affixed in the presence of:

Title:

The Corperata Saal of THE

CORBORATION OF THE GiITy OF
PORT COQUITLAM vas hezeunte
affixed in ths presense of;

Mayer

Clark

Ret CD etl ll al Meet Bree Na Me Nel”

4&293r

NOUV 4 °8& 13:23

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