TERMS OF INSTRUMENT ~- PART 2 Page 4 of 10. pages

AND WETRELS the Grantor proposes to subdivide the Lands.

AND WHEREAS a covenant under section 215 of the and
Title Act is xvequired as a condition of the consent to approval of
the subdivision of the Lands by the Minister of Environment, Lands
and Parks, under section 82 of the Land Title Act;

OND WHEREAS section 215 of the Land Title Act provides
that there may be cegistered as a charge against the title to any
land a vovenant in favour of the First Grantee and a municipality
chat land is to be used in a particular manner or that land is not
to be subdivided except in accordance with the covenant;

NOW THERSFORE THIS AGREEMENT WITNESSETH that in
consideration of the sum of ONE ($1.00) DOLLAR of lawful money of
“snaGa and other good and valuable considezation paid by the First
and Second Grantees to the Grantor, the receipt of which is hereby
acknowledged, the Grantor does hereby covenant and agree with the
First and Second Grantees under section 215 of the Land Title Act
of the Province of British Columbia as follows:

1. The Grantor is aware of and, on behalf of himself and
his heirs, executors, administrators, guccessors and assigns,
hexeby acknowledges that there is a potential flood danger to the
Lance.

2. The Grantor, on behalf of himself and his heirs,
axecutors, administrators, successors and assigns, hereby covenants
and agrees with zach of the First Grantee and Second Grantee, as
a covenant in favour of each of tha First Grantee and Second
Grantee pursuant to section 215 of the Land Title Act, it being the
intention and agreement of the Grantor that the provisions hereof
be annexed te and run with and be a charge upon the Lands, that
from and after the date hereof;

(a) Exeept as provided in clause 2(b), no area used for
habitation, business or storage of goods damageable by
floodwaters and no fixed equipment Gdamageable by
floodwaters, except for furnaces and hot water heaters,
shall be located within any building, at an elevation
suen that the underside of the floor system is less than
five point one five (5.15) metres Geodetic Survey of
Ganada datum;

Areas used for industrial purposes are exempt from the
requirements of clause 2(a).

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