precedent, each of which are for the sole benefit of the City and may be waived by it. at any time: (a) That prior to the Completion Date and in addition to the Purchase price, Shaughnessy. shall deposit with the City the following: (1) a refundable letter of credit or bank guarantee in the amount of $74,083.00, asa security deposit to ensure construction by Shaughnessy of the works listed on Schedule "A" hereto and of the landscaping required by the City for the Proposed Development; and (ii) a deposit by Shaughnessy by way of cash, bank draft or certified or solicitor's trust cheque in the amount of $51,928.00 to cover Development Cost Charges of the City in respect to the Proposed Development as set out on Schedule "38" hnereco, it being understood and agreed ‘ event that and sale of the City Lands and reel is not complar party for whatsoever reason, then upon the written request of Shaughnessy, City shall immediately release to Shaughnessy without deduction, full amount of all monies and let: Geposited with th City by Shaughnessy. (pb) That prior to the Completicn Date Shaughnessy shall obtain and submit to the City for its approval a Plan of Consolidation of the City Lands with Parcel A and the Adjacent Lands prepared by a British Columbia iand surveyor. {c) That on or before Complericn Dare have executed ali the necessary clans, documents and instruments as shall be reasonably required by che City in orde highway purposes an area of approximately 3,000 the widening by approximately 7 feet of Shaughnessy Street adjacent to the ropesec Develocoment. 5. The obligations of Shaughnessy co complete the purchase of the City Lands and Parcel A City biect to the