THE CORPORATION OF THE CITY OF PORT COQUITLAM

LAND USE CONTRACT

HIS AGREEMENT made the day of. A.D. 19 BETWEEN: THE CORPORATION OF THE CITY OF PORT COQUITLAM (hereinafter called the "Municipality") OF THE FIRST PART:

IDEAL HOLDINGS LTD., 5037 Victoria Drive, Vancouver, B. C.

(hereinafter called the "Developer") OF THE SECOND PART:

WHEREAS the Municipality, pursuant to Section 702A of the "Municipal Act", may, notwithstanding any by-law of the Municipality, or Section 712 ot 713 of the "Municipal Act" upon the application of an ewner of land within a development area designated as such by By-law of the Municipality, enter into a Land Use Contract containing such terms and conditions for the use and development of the land as may be mutually agreed upon and thereafter the use and development of that land shall be in accordance with such Land Use Contract; ;

AND WHEREAS the "Municipal Act" requires that the Municipal Council, in exercising the powers given by Section 702A, shall have due regard to the considerations set out in Section 702(2) and Secticn 702A(1) in arriving at the use and development permitted by any land development contract and the terms, conditions and considerations thereof;

AND WHEREAS the Developer has presented to the Municipality a acheme of use and development of the within described lands and premises

and hes made application to the Municipality to enter into this Land Use

-Centract under the terms, conditions and for the consideration hereinafter ew . .

set forth;

AND WHEREAS the Council of the Municipality, having given due

<ragard to the considerations set forth in Sections 702(2) and 702A(1) of the "Municipal Act", and the Port Coquitlam Official Community Plans,

has agreed to the terms, conditions and consideration herein contained;