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DRAFT RESOLUTION C 0 U ' C

JAN 2 0 1875

“That Lot A of Block E of Bleck 1 of District Lot 380, Group
One, Plan 11048, New Westminster District, being 3215 Lancaster Street,
. Port Coquitlam, B. C., be purchased from Oliver Athling Arthur for the
sum of SEVENTY THOUSAND ($70,000.00) DOLLARS upon the following terms
and conditions: a | |
1. |. The sum of THIRTY-FIVE THOUSAND ($35,000.00) DOLLARS to be.
paid ‘upon registration of the necessary documents in the New Westminster
oe Land Registry Office.
2. | 7 TWENTY THOUSAND ($20,000.00) DOLLARS to be paid on December
ist, 1975; | | - ;
| 3. FIFTEEN THOUSAND ($15,000.00) DOLLARS to be pai.d on December
Ast, 1976; | |
- Ae On all deferred payments interest shall accrue at the rate of
she per annum, calculated send~annually, not in advance from the date

of completion and the accrued interest will be payable on July lst,~

1975, December Ist, 1975, and July lst, 1976;
a | “Mr. OLA. Arthur will be entitled to free occupancy of the
property. until. Decenber 1st, 1976 and all municipal taxes or municipal
utility rates accruing until that date will be paid by The Corporation
of the City of Port Coquitlam; |

AND THAT His Worship the Mayor and City Clerk be authorized to

oO.
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4s

execute the necessary agreement or other documents necessary for the

purposes aforesaid and to affix the Corporate Seal thereto.

Sse

segues
fee

NOTE: See location map on reverse side.