The Permittee shall comply with all City and Provincial building

regululations and shall not commence work until he has received a

building permit from the City.

The Lands and contiguous streets and lanes shall be developed by

the Permittee (including his succeséors and assigns) in conformity “with the terms and conditions set out in Schedule "A", which is

attached to and forms part of this Development permit.

The Permittee shall not sell, assign, transfer, convey or otherwise

dispose of all or any part of his interest in and to the Lands save

and except for mortgage purposes until the Lands and contiguous ‘stre.

and lanes have been developed in accordance with the conditions of this Development Permit, or alternatively until the proposed purchaser or assignee has covenanted with the City ina manner acceptable to the ‘Council of the City to ensure development of the Lands and contiguous ‘Streets and lanes in conformity with the conditions herein contained. After the successor or assignee of the applicant has covenanted in writing to the satisfaction of the Council of the City to assume all of the Permittee's obligations and liabilities herein, the obligations and liabilities of the Permittee shall cease in regard to development work done thereafter by the said successor or assignee.

It. is a condition of this Permit that if the Permittee has not

substantially commenced the development contemplated by this Permit

by . > the Permit shall lapse and be of

no further force and effect.