RESTRICTIVE COVENANT

THIS INDENTURE Made this day of , 1988,
BETWEEN:
ANNSEP PROPERTIES LTD. (Incorporation No. 73051)
1645 Harbour Drive
Coquitlam, B.c.
V3J 5V7
(herein called the "Owner'')
OF THE FIRST PART,
AND:
THE CORPORATION OF THE CITY OF PORT COQUITLAM,
a municipality incorporated by statute and
having its municipal offices at
2580 Shaughnessy Street, Port Coquitlam,
British Columbia
(herein called the "City")
OF THE SECOND PART.
WHEREAS:
A. The Owner cwns all and singular that certain parcel or

tract of land situate lying and being in the City of Port
Coquitlam in the Province of British Columbia, and being more
Particularly known and described as set out on Schedule "qr
attached hereto and forming part hereof (herein called the
“Lands") .

B. The City is a municipality duly incorporated pursuant
to the Municipal Act, R.S.B.C, 1979, Chapter 290 and amendments
thereto.

Cc. The Owner has applied to the City to rezone the Lands
for the purpose of permitting the retail sale of wine and beer
for off-premises consumption.

NOW THEREFORE THIS INDENTURE WITNESETE THAT IN
CONSIDERATION of the Sum of One Dollar ($1.00) of lawful money of
Canada paid by the City to the Owner (the receipt and sufficiency
of which is hereby acknowledged by the Owner).