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NOW THEREFORE in consideration of the premises contained herein and the sum of One ($1.00) Dollar, now paid by the City to the Grantor, the receipt and sufficiency whereof is hereby acknowledged, the Grantor covenants as follows:

1. The Grantor covenants and agrees with the City that it shall not use the Lands or build, place or erect, or permit the building, placement or erection of any building, structure or thing on the Lands, except in accordance with the following

terms:

the lowermost portion of any floor area of a building on the Lands, as certified by a B.C. Land Surveyor, shall be above the highest point of any road adjacent or contiguous to the Lands;

all rear yard drainage and grading shall be substantially complete and certified by the Grantor's Building Guideline Consultant and to the City's satisfaction, prior to occupancy of any

building on the Lands;

no unauthorized fill shall be placed and no retaining walls or structures of any nature or kind shall be built, placed or erected on, in, under or over any utility rights of way in a rear.

yard;