~5< 12. The Lbeveloper covenants and agrees to apply for a building permit under the provisions of the "City of Port Coquitlam Building and Plumbing Code Administration Bylaw, 1974, No. 1298" and pay the requisite building permit and plumbing permit fees prescribed therein plua the sum of $300.00 for each self-contained housing unit which said sum the City _ghall credit to the Waterworks Utility Capital Replacement Fund. 13. The Developer further covenants and agrees to pay to the Municipality the entire cost of connecting all required water, storm and sanitary sewer services. to the said building and to construct such roadwork, curbing, and paving as is required and to pay to the Municipality upon

the execution of this Agreement (the receipt of which is hereby acknowledged)

the sum of

being the estimated cost to the Municipality of connecting such services

to the said building and constructing such works as are detailed ia

Schedule hereof.

**NOTE: The final Land Use Contract document will contain a Schedule detailing the works proposed and the costs thereof. This Schedule will include all services and: works necessary or required to service the development in order that ali costs. thereof are borne by the developer.

14. As security for the due and proper performance of ali the covenants

and agreements in this contract contained, the Developer conenants and

‘agrees to deposit with the Municipality by Letter of Credit the gum of

Dollars, drawn on the Bank of The Developer agrees that if the works specified on payments called - for herein are not completed or made in accordance with the itens of

this agreement, the Municipality may complete the works or make the

Nae

payments at the cost of the Developer and deduct from the deposit held

sabatd

by the Municipality the cost of such completion or payment, and the

balance of the deposit shall be returned to the Developer, less any

oi

aduinistration fees required. If there is insufficient money on deposit ‘with the Municipality, then the Developer will pay such deficiency to

the Municipality immediately upon receipt of the Municipality's bill for completion. It is understood that the Municipality may do such work as required to complete the works either by itself or by Contractore employed by che Municipality. If all the Developer's convenants are carried out

as herein provided, then the deposit, less administration fees, shall be

returned to the Developer.