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THE CORPORATION OF THE
CITY OF PORT COQUITLAM

BoR. Kirk June 9th, 1989

City Administrator

R.A. Freeman
City Clerk
Deputy Administrator

Renewal of Kinsmen Lease

RESOLUTION:

THAT the Renewal Lease between the City and the Kinsmen Club of Port
Coquitlam referring to Lot 91, Plan 52852, be and the same is hereby approved;

AND THAT His Worship the Mayor and the City Clerk be authorized to sign
the said Renewal Lease on behalf of the City and to affix the City's Corporate

Seal thereto.

BACKGROUND AND COMMENTS:

As Council members will recall, the subject has been under discussion for
some time. Originally, the Kinsmen Club were asking that the original lease
be modified in order that they could mortgage the building on the City
property but this has now proven to be unnecessary. The renewal lease now
before the Council grants the Kinsmen nothing more than they are entitled to
under the original lease which provided for an automatic five year renewal
from April 27th, 1987 based on the original terms of the lease, but without
the provision for a further renewal. The amount to be paid for the renewal
lease, $5.00, is also provided in the original lease agreement.

City Clerk
Deputy Administrator.