TRUST AGREEMENT

THIS AGREEMENT made the day of

THE CORPORATION OF THE CITY OF PORT COQUITLAM
2580 Shaughnessy Street

Port Coquitlam, B.C.

V3C 2A8

(the "City")

OF THE FIRST PART

RAFIKI] ESTATES LTD., Incorporation Number 212031
2570 Camberly Court

Coquitlam, B.C.

V3K 6S6

(the "Owner")
OF THE SECOND PART

WHEREAS the Owner has applied for approval of a plan of subdivision for
the lands described in Schedule "A" to this Agreement (the "Lands") to permit the
development of residential single family units;

AND WHEREAS the City proposes to introduce development cost charge
bylaws for the purpose of imposing charges to assist in the payment of capital costs for
highways, water mains, sanitary sewers and drainage facilities;

AND WHEREAS the proposed development of the Lands will increase the
City’s capital cost burdens for those facilities and the Owner has requested the approving
officer of the City to proceed with subdivision approval prior to the proposed adoption of
the development cost charge bylaws;

NOW THEREFORE in consideration of the payment of $1.00 to the Owner
by the City, the City and the Owner agree as follows:

1. The Owner has deposited with the City the sum of $275,940.00 (the
"Contributions’).

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