WHEREAS :

A. The Covenantor is the owner in fee~simple of all and singular
certain parcel of land situate in the City of Port Coquitlam,
Province of British Columbia, and more particularly known and
described as:

City of Port Coquitlam Parcel Identifier 003-890-163

Lots 52 and 53 District Lot 340 Group 1 New Westminster
District Plan 71468 (hereinafter called the "Lands") _

~The Covenantee is the registered ower of a charge registered: against
the Lands being statutory right-of-way #248435 (the "Statutory
Right-of-Way").

The Statutory Right-of-Way grants to the Covenantee the right to

construct and maintain certain works within a portion of the Lands

shown in black outline on Statutory Right-of-Way plan #71469

(the “Right-of-Way Area"),

The Covenantor has constructed a portion of a building (the "Encroachment")
within the Right-of-Way Area. : : - ; ; .

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E. The Covenantee has agreed to permit the Encroachment to remain in .
. the Right~of-Way Area on the terms and conditions of this Agreement.

NOW THEREFORE, in consideration of the premises and of the mutual covenants
and agreements of the parties herein contained and of the. sum of Oné ($1.00)
‘Dollar now paid by the Covenantee to the Covenantor (the Yeceipt and ;
sufficiency whereof is hereby acknowledged by the Covenantor), the parties

hereto do hereby covenant and agree each with the other as follows:

oe ‘The- Covenantor- acknowledges: that the Encroachment is situated within -
“+ the Right-of~Way- Area. ; aa oe, ae ; ;

2. The Covenantee covenants and agrees that it will not take any action
against the Covenantor to remove the Encroachment.

The Covenantor covenants and agrees that notwithstanding paragraph

2 herein the Covenantee shall retain all of its rights pursuant to the
Statutory Right-of-Way and that the Covenantee does not. represent to
the Covenantor that the Encroachment will not be damaged by the
exercise by the Covenantee of any of its right pursuant te the
Statutory Right-of-Way and the Covenantor agrees to save harmless

the Covenantee in the event of any damage being caused by the exercise