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IT Is UNDERSTOOD AND AGREED that unless the Mortgagee shall
otherwise expressly consent in writing, title in. fee simple to
the property demised by the Lease and the. leasehold estate
therein shall not merge but shall always remain separate and
distinct notwithstanding the union of said estates either in the
(lessor or the Lessee or in a third party. by ‘purchase or

otherwise.

NOTWITHSTANDING ANY. OTHER PROVISION “in this Mortgage ©
Agreement, . no body, corporate or personal, other - than "the
Martgagor, Carnoustie Recreation and Development Ltd. and the
Mortgagee, Crown Life Insurance Company shall as a: result of the :
operation of any term or option in: this Mortgage be entitled,
empowered, -or enabled to operate the “golf course or take
possession of ‘the said lands without ‘the express ‘consent of ‘the
Council of the Corporation of ths. City of. Port Coquitlam,. which
consent shall not be unreasonably withheld. : oo :
IN WITHESS WHEREOF, the parties Nereto have hereunto: set.”
thelr hands and seals, or bsing corporations,” have. caused their
“corporate seal. to be hereunte affixed, duly authorized. by the

‘proper officers in that behalf, as the case maybe, the day and

year: first above written...

‘

SIGNED, SEALED AND DELIVERED
in the presence of:

Name

Address JOHN GEORGE SARIC

Occupation

“THE CORPORATE. SEAL OF
CARNOUSTIE RECREATION ANO
DEVELOPMENT LTD. was hereunto
affixed in the presence of:

Authorized Signatory

Authorized Signatory

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