Paga 7 of ll

required by the "City of Port Coquitlam Development Management
Bylaw, 1987, No. 2242" for alternate parking;

AND WHEREAS the Owner desires to provide the required
off-street parking for the said lands within the Parking Facility
in substitution for the off-street parking upon the said lands,
and has made application to the City for permigaion to use such
Parking Facilities and the City hase agreed to grant such us@ in
the form and to the extent hereinafter provided; —

NOW THEREFORE THIS AGREEMENT WITNESSETH that in
congideration of the payment of the sum of $22,750 by the Owner
to the City, and other good and valuable conaideration, the
parties hereto covenant and agree each with the other as follows:

1. (a) The City agrees, subject to payment of the fees
set out in Section 3 hereof, to grant and does hereby grant to
the Owner the use of 65 parking spaces within the aforesaid
Parking Facility, in gubstitution for the same number of
off-street parking spaces which the said Owner is required to
provide by the “City of Port Coquitlam Development Management
Bylaw 1987, No. 2242" for the building or structure situate on
the said lands of the Owner and hereinbefore defined, and such
parking apaces shall be for the free use by the public.

(b) This xcight to park shall be valid notwithstanding
any change in the ownership of the said landa, and shall remain
attached to the gaid lands and provide gubstantial compliance
with the requirements of the "City of Port Coquitlam Development
Management Bylaw 1987, No. 2242" for the building or structure
thereon, to the same extent and subject to the same limitations |

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