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The purchase price of the Land shall be $287,500.00.

Upon execation of this Agreement the City shall deliver
to the Vendor's solicitor in trust a deposit of
$27,500.00 to be held pending completion of the sale,
which deposit shall be refunded to the City if the sale
of the Land does not complete for any reason other than
a default by the City. The balance of the purchase
price, being $260,000.00 (the "Balance") shall be paid
on completion cf the sale.

Concurrently with the conveyance of the Land to the City,
the City shall grant to the Vendor an easement in favour
of Lot "CY", District Lot 4, Township 39 N.W.D., Plan
19724, over the easterly three feet of the Land, except
the ten feet nearest Kitchener Avenue, for. vehicular
access purposes. The costs of preparing and registering
the easement agreement shall be borne by the city.

At such time as Kitchener Avenue is re-aligned, the City
shall improve the lane to the north of Lot C to allow
motor vehicle access to the south boundary of Lot Cc.

The closing date of the sale and the conveyance of the
Land to the City shall be May 15, 1990. If the New
Westminster Land Title Office is not open for business
that day, the closing and conveyance shall take place on
the first day after that date on which the Nev
Westminster Land Title Office is open. .

The City shall have possession of the Land following
payment of the purchase price to the Vendor on the
closing date.

All adjustments of taxes in connection with the purchase
and sale of the Land shall be made as of the closing
date.

On the closing date:
(a) the Vendor shall deliver to the City's solicitor:
(i) an executed registrable Transfer of an Estate
in Fee Simple transferring the Land to the City
free and clear of all liens, charges and
encumbrances;

(ii) a Vendor's Statement of Adjustments executed
by the Vendor; and

(b) the City's solicitor shall tender the Transfer for
registration in the New Westminster Land Title

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