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Page 5 of 12 Pages

. AND WHEREAS the Grantor proposes to subdivide the
Lands, according to a plan of subdivision completed and certified
correct on the 7th day of September, 1990, by Dick Mak, British -
Columbia Land Surveyor, a copy of which is attached hereto as
Schedule "A", into the following lots:
Lots 1 and 2
District Lot 231.
ie Group 1
Heke New Westminster District

(hereinafter called the *Lots") ;

AND WHEREAS a covenant under Section 215 of the Land
Titl ct is required as a condition of the consent to approval
of the subdivision of the Lands by the Minister of Environment.

under Section 82 of the Land Title Act;

AND WHEREAS Section 215 of the Land Title Act provides
that there may be registered as a charge against the title to any
land a covenant in favour of the First Grantee and a municipality
that land is to be used ina particular, manner or that land is
not to be subdivided except in accordance with the covenant;

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the sum of ONE DOLLAR ($1.00) of lawful money of
Canada and other good and valuable consideration 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 tne Province of British Columbia as follows:

1. ‘The Grantor is aware of and, on behalf of itself and
its successors and assigns, hereby acknowledges that there is a
potential flood danger to the Lots. | | :

2. The Grantor, on behalf of itself and its successors and
assigns, hereby covenants and agrees with each of the First
Grantee and Second Grantee, as a covenant in favour of each of
the 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 to and run with and
be a charge upon the Lots, that from and after the date hereof:.

(a) ‘except as provided in paragraph 2(b) hereof, no area
used for habitation, business or storage of goods
damageable by floodwaters and no furnace or other fixed —
equipment damageable by floodwaters shall be located
within any building, mobile home or unit, or modular

home or structure aj Levation such that the.
AGE |

as

WP: 30857 /008MC.00C,