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NOW THEREFORE in consideration of the premises contained herein ana
the sum of One ($1.00) Dollar, now paid by the City to the Covenantor, the receipt and

sufficiency whereof is hereby acknowledged, the Covenantor covenants and agrees with the

City as follows:

1. The Covenantor covenants and agrees that it shall not build, place or erect
or permit the building, placement or erection of any building or structure on the Lands and
shall not make application for a building permit and no building permit shall be issued in
respect of the Lands unless and unt! all off-site services necessary for the development of

the Lands have been completed to the satisfaction of the City Engineer.

2. This Covenant is granted voluntarily by the Covenantor to the City pursuant

to Section 215 of the Land Title Act of the Province of British Columbia and shall run with
the Lands.

3. The Covenantor hereby releases, indemnifies and saves the City harmless from
and against all actions, causes of action, losses, damages, costs, claims, debts and demands
whenever, whatsoever or howsoever arising, brought by any person, arising out of or in any

way due to or connected with the granting or existence of enforcement of this Covenant.

4, The Covenantor shall forthwith after execution hereof by it, do or cause to be
done all acts or things reasonably necessary to give proper effect to the intention of this
Covenant and to ensure that it may be registered against title to the Lands in the New

Westminster Land Title Office.

5. Whenever the singular or masculine is used herein, the same shall be
construed as meaning the plural, feminine or body corporate or politic where the context
or the party so requires; this Covenant mums with the Lands; every reference to -ach party

hereto shall be deemed to include the officers, employees, elected officials, agents, servants,