The monthly rental fee hereinbefore set Forth shall remain in effcet
for a period of five years from the date of execution of this Land Use
Contract and shall be renegotiated then and at every subsequent five year
interval during the term of this Land Use Contract, subject to referral to
arbitration under the Arbitration Act {n the event of disagreement.

The Municipality reserves the right to cease supplying the parking
spaces hereinbefore referred to and upon the Municipality so ceasing the
requirement for payment of a monthly rental shall cease.

In the event that the Developer should provide off-street parking spaces
on property owned by it and located within six hundred feet of the land to
4 which there is annexed a condition or covenant in favour of the Municipality
the property is to be used for the purpose of a public parking of vehicles
. and fer nv other purpose whatscever then the rental fce provided shall be
reduced by $7.00 per month for each parking space thus provided.

In the event that the Municipality, pursuant to the Mun’cipal Act,

~ should establish a special beneficing area to provide off-street parking
for an area within the Municipality which includes the said lands of the

3 Developer and upon which a special rate or tax is levied for such purpose,

the monthly rental payment by the Developer to the Municipality for the use

of the perking space as aforesaid shall cease to be payable,

12, The Developer covenants and agrees to apply for a building permit
under the provisions of the “City of Port Coquitian Building and Plunbing

Code Adainistration By-law, 1974, No. 1298" snd pay the requisite building

permit and plumbing permit fees prescribed therein.

13, As security for the due and praper performance of all the covenants
and agreerents in this contract contained, the Developer covenants and
agrees to deposit with the Municipality by Letter of Credit the sum of
$2,000.00 drawn on a Canadian chartered bank or other Canad{fan financlal

institution customarily issuing Letters of Credit.

14. The Developer covenants and agrees not to deposit any material or
debris upon any roads during the construction of the said work and to
continuously carry on the construction of the said work in a good snd
proper workmanlike manner causing as little disturbance to neighbouring

. properties as is reasonable under the ecircumstancee, In the event that

any material or debris should be deposited upon any road during the

construction of the work or should the construction by the Developer

constitute a nuisance to neighbouring properties of the work the Developer
covenants and agrees that the Municipality may forthwith renove such
material or debris or put right such nuisance at the expense of the
Developer, the cost thereof to be determined by the Engineer. In the

event that construction of the work ceases for any periof of tice in

excess of thirty days the Developer covenants and agrees that the Munfcioality
may forthwith enter upon the property and construct thereon a solid board
fence not greater than eight feet in height ncr less than six feet in
height surrounding the entire perimeter of the project and that in sea doing
the Municipality eccepts no responsibility for the suitability or adequacy
of the said fence erected for the benefit of the said Developer and for
which the Developer covenants and agrees to accept full responsibility and
te save harmless the Municipality from each end every action and clain
which may be brought or arise as a result thereof. In the event that aay
Anvoice of the Municipality for the removal of such asterial or debris or
construction of the fence shall remain unpaid after thirty days of recefpt
of the same by the Developer the Municipality is authorized to deduct the
amount of such’invoice from the deposit referred to in Section 13 hereof.
15. Subject to this agreement, the within works and the development herein
shall comply with all the By-laws of The Corporation of the City of Port
Coquitlan.

16. Notwithstanding any provisions of this contract hereinbefore contaised
and notwithstanding the provisions of the “City of Port Coquitlam Building
and Plumbing Code Administration By-law, 1974, No. 1298" and of Section
714(k) of the "Municipal Act", R.S.B.C., 1960, Chapter 255 end azendzents
thereto, the Developer covenants and agrees that the Municipality nay
withhold the granting of an occupancy perait for the occupancy andfor

use of any building or part thereof, constructed upon the said lands uatil
the same have been completed to the satisfaction of the Building Inspector
and until the amount of $7,200.00 referred to in Section 11 of this Land
Use Contract has been paid to the Municipality.

17. (a) The Developer agrees to pay all arrears of taxes outstanding

agoinst the property herein described before the formal approval
of the said scheme of use and development upon the land is given.

(>) The Developer further undertakes to pay all current taxes

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