THE GORPORATION OF THE CITY OF PORT COQUITLAM

2272 McALLISTER AVENUE
PORT COQUITLAM. B.C.
V3C 2A8 -

TELEPHONE: 941.5411

OUR FILE

CANADIAN. IMPERIAL BANK OF COMMERCE

The Corporation of the City of Port Coquitlam (the
"Corporation") arrange for the daily transfer of balances in the
operating current accounts listed in Part I of Schedule A hereto
(the "operating accounts") in order to facilitate its banking
operations.

2.01 The Bank is hereby requested and directed by the
Corporation to transfer as at the close of business on each banking
business day commencing September 1, 1982 the balance, whether debit

or credit, in each of the operating accounts to the current account
designated in Part II of Schedule A hereto (the "Concentration Account")

and this shall be the Bank's good and sufficient authority to make all
Such entries in the operating accounts and in the Concentration Account
as may be required to effect such transfers.

2.02 Notwithstanding such transfers, the Corporation will
continue to operate its operating accounts in the ordinary course of
business whether. or not overdrafts are thereby created.

3. The Corporation shall ensure that at all times any over-
drafts in the Concentration Account shall be kepe within the credit Limit
stipulated by the Bank (with respect to that Concentration Account) and
the Bank may refuse to honour any drawing upon an operating account which
in the opinion of the Bank would cause the Concentration Account to be
overdrawn beyond such credit limit.

4.01 The Bank shall furnish the Corporation with a daily scate-
ment of the position of the Concentration Account together with such
further information as may be agreed upon from time to time between the
Bank and the Corporation.