AND WHEREAS the City is aware of and has no objection to the Encroachment herein defined subject to the provisions of the City's bylaws as amended from time to time and subject to the terms and conditions of this Agreement; AND WHEREAS the Ministry of Transportation and Highways of the Province of British Columbia is aware of and has no objection to the Encroachment, although it does not wish to be a party to this Agreement; NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises, the covenants herein contained, the sum of one dollar ($1.00), receipt of which from the City is hereby acknowledged by the Owner and other good and valuable ‘consideration THE PARTIES HEREBY AGREE AS FOLLOWS: l. The Owner is the registered owner in fee simple of ALL AND SINGULAR those certain lands situate in Port Coquitlam, British Columbia, which are more particularly described as: Firstiy: Lots 1, 2, 3, 4, 5, 6, 9, 10, 12, 13 Block 14 District Lot 464 Group 1 Plan 2244 New Westminster District Secondly: Lot ll Blocks 14 and 15 District Lot 464 Group 1 Plan 2244 New Westminster District