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VENDOR'S REMEDIES

8.01 If the Purchaser fails to complete the purchase of the Lands when required to
do so, then this Agreement will terminate forthwith and the amount paid by the
Purchaser pursuant to subsections 2.01 (a) will be absolutely forfeited to the Vendor as
liquidated damages without prejudice to such other remedies as may be available to the

Vendor.

VENDOR COOPERATION

9.01 The Vendor will cooperate with the Purchaser in ail respects in connection
with the severance of the Property from the Lands and the transfer of the Property to
the Purchaser, including the execution of all consents, authorizations, plans and
applications for subdivision as may be required to effect the severance and transfer of
the Property, provided that the Purchaser will reimburse the Vendor for any expense
relating thereto including any legal fees incurred by the Vendor in reviewing any such
document except for the form of transfer and the subdivision plans.

SURVIVAL OF TERMS

10.01 All representations, warranties and covenants of the Vendor and Purchaser set
forth herein will survive the Completion Date and the payment of the Purchase Price.

BINDING AGREEMENT

11.01 The acceptance of this Offer by the Vendor shall convert this Offer into a
binding agreement for the sale and purchase of the Property pursuant to the terms and

eonditions herein.