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The monthly rental fee hereinbefore set fo.th shall remain in effect
for a period of five years from the date of execution of this Land Use
Contract and shall be renegotiated then and at every subsequent fir> year
interval during the term of this Land Use Contract, subject to referral to
atkitration under the Arbitration Act in the event of disagreement,

The Murfeipality reserves the right to cease supplyin: the parking
spares hereinbefore referred to and upon the Municipality so ceasing the
requirement for payment of a monthly rental shall cease, *

In the event that the Developer should provide off-street parking spaces
on preperty owned by it and located within six hundred feet of the land to
which there 13 annexed a conditicn or covenant in favour of the Municipality
the property is to be used for the Purpose of a public parking of vehicles
and for no other purpose whatsoever then the rental fee previded shall be
reduced by $7.00 per month for each Parking spaco thus provided.

In the event that the Municipality, pursuant to the Municipal Act,
should establish a special benefiting area to provide off-street parking
for an area within the Nuniciosality which includes the said lands of the
Developer and upon ish a special rate or tax is levied for such purpose,
the monthly rental Payment by the Developer to the Municipality for the use
of the parking Space as aforesaid shall cease to be payable,

12. The Developer covenants and agrees to apply for a building permit
uncer the provisions of the “City of Port Coquitlam Building and Plumbing
Code adzinistracion By-Law, 1974, No. 1298" and pay the requisite building
Permit and plucbing permit fees proseribed therein,

13. As security for the due and Proper performance of all the covenants
end agreements in this contract contained, the Developer covenants and
agrees to deposit with the Municipality by Letter of Credit the sum of
$2,000.00 dravn on a Canadian chartered bank er other Canadian financial
institution custecarily issuing Letters of Credit,

4. 7 Developer covenants and agrees not to deposit any material or
debris upon any roads during the construction of the said work and to
continuously carry on the ‘construction of ‘the said work in a good and
Proper workmanlike manner causing as little disturbance to neighbouring
Properties as is reasonable under the ¢ireumstances, In the event that

any material or debris should be deposited upen any road during’ the

construction of the work or should the construction by the Developer

MENEAME eT we Sat gait sisted a ering,

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constitute-.a nuisance te neighbouring properties of the work the B cloper
covenants and ogrces that the Municipality may forthwith renove such
materinl or debris or put right such nulsance at the expense of the
Developer, the cost thereof to be deternined by the Engineer. In the
event that construction of the work ceases for any periof of tine in
excess of thirty days the Developer covenants and agrees that the Municipality
may forthwith enter upon the Property and construct thereon 2 solid board
fence not greater than eight feet in height nor less than six feet in
height Surrounding the entire perimeter of the project and that fn so doing
the Municipality accepts no responsibility for the suitability or 2dequacy
of the said fence erected for the benefit of the said Developer and for
which the Developer covenants and agrees to accept full responsibility
te save harnless the Municipality from each and every action and elsia
which may be brought or arise as a result thereof, In the event
invoice of the Municipality for the removal of such materfal or debris or
construction of the fence shall remain unpaid after thirty days of receist
of the same by the Developer the Municipality {3 authorized ra deduct the
amount of si:ch'involce from the deposit referred to in Section 13 hereof.
U5. Sudject to this agreement, the within works and the developnent herein
shall comply with all the By-laws of The Corpuration of the City of Pore
Coquitlan.

16. Notwithstanding any provisions of this contract hereinbefore contained
and notwithstanding ihe Provisions of the "City of Port Coquitlan Building
and Plumbing Code Administration By-law, 1974, No. 1298" and of Section
714(k) of the "Municipal Acc", R.S.B.C., 1960, Chapter 255 and emendac
thereto, the Developer covenants and agrees that the Municipality nay
withhold the granting of an occupancy pernit for the occupancy and/or
use of any building or part thereof, constructed upen the said lands until
the same have beer completed to the satisfaction of the Building Inspector
and until the amount of $7,260.00 referred to in Section 11 of this Land
Use Contract has been paid to the Municipality.
17. (a) The Developer agrees to Pay all arrears of taxes “utstanding
against the property herein described before the formal arproval
of the said schere of use and development upon the land is given.

The Developer further undertakes to pay all current taxes