THE CORPORATION OF THE
CITY OF PORT COQUITLAM

TO BR. Kirk, November 4, 1988
City Administrator

FROM: R.A. Freeman,
City Clerk

SUBJECT: Modification Agreement - Westview Heights

SOLUTION:

That the Modification of Main Agreement document dated the 7th day
of November 1988 between Weatern Mortgage Development Corporation and the
Corporation of The City of Port Coquitlam as contained in the Agenda
documents for the Council meeting of November 7th, 1988 be approved;

AND THAT His Worship the Mayor and City Clerk be authorized to

sign the said Modification Agreement on behalf of the City and affix the
City's Corporate seal thereto.

BACKGROUND AND COMMENTS:

The form of agreement that would be approved by passage of the
above noted resolution follows this memorandum. These changes have been
requested by the Developer due to requirements made of them by C.M.H.C.
and other Financial Institutions. Insofar as the City is concerned, the
changes do not affect the substance of the Agreement but do serve to
clarify one or two points and the Solicitor has determined that these
clarifications could actually work to the City's benefit. The one major
change being made to the Agreement is to give the Developer's Mortgage
holder the right to have any payments due to the Developer from the City
assigned to the Mortgage holder instead.

LATE ITEM be P kK

R.A. Freeman,
RECEIVED AT: City Clerk/Deputy Administrator

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