Restrictive Covenant Agreement (July 28, 1972)

THIS AGREEMENT is made the 28th day of July, 1972.

BETWEEN:

BRITISH COLUMBIA HYDRO AND POWER AUTHORITY of 970 Burrard Street, in the City of Vancouver, Province of British Columbia, (hereinafter called "B. C. Hydro") OF THE ONE PART,

AND

THE ROYAL TRUST COMPANY of 1205 Government Street, in the City of Victoria, Province of British Columbia, (hereinafter called "Royal Trust") OF THE OTHER PART.

WHEREAS:

(A) B. C. Hydro is the registered owner of Lot 1, Sections 2, 5 and 6, Highland District, Plan 24787;

(B) Royal Trust is the registered owner of Lots 1 and 2, Section 2, Highland District, Plan 13849 (hereinafter also called the "Dominant Tenement");

(C) B. C. Hydro has agreed with Royal Trust that part of said Lot 1 of Plan 24787 shall be bound by a restrictive covenant;

(D) The part of said Lot 1 of Plan 24787 to be bound by the restrictive covenant and hereinafter referred to as the "Servient Tenement" is more particularly known and described as that part of Lot 1, Plan 24787, Sections 2, 5 and 6, Highland District described as follows: Commencing at a point on the south boundary of said Lot 1, Plan 24787 distant 350.00 feet from the south west corner of said Lot 1; thence Westerly along the said south boundary to the said south west corner of said Lot 1; thence N. 25° 17' 30" E. along the westerly boundary of said Lot 1 a distance of 172.12 feet, thence N. 9° 03' 00" W. along the said Westerly boundary of said Lot 1 a distance of 110.24 feet; thence south easterly in a straight line to the point of commencement.

WITNESSETH

In consideration of the sum of Ten Dollars (the receipt of which is hereby acknowledged by B. C. Hydro), B. C. Hydro hereby agrees as follows:

1. Until Royal Trust sells to a person or persons other than a child or children of Derek Chatwin Todd (hereinafter called "Todd"), of 1586 York Place, Victoria, British Columbia, Businessman, and such person or persons does not hold the "Dominant Tenement" in trust for a child or any children of Todd or until twenty-one years after the death of Todd have passed, whichever shall first occur, B.C. Hydro shall not use the Servient Tenement for any purpose whatsoever other than to screen the Dominant Tenement from any development on the remainder of said Lot 1 of Plan 24787 and without limiting the generality of the foregoing B. C. Hydro agrees not to build, construct or maintain any structure or building whatsoever on the Servient Tenement and not to remove any of the actual growth thereon.

2. The restrictive covenant herein agreed to by B. C. Hydro shall be registered for the benefit of Lots 1 and 2, Section 2, Highland District, Plan 13849.

3. This agreement shall be binding upon the parties hereto, their successors and assigns.

IN WITNESS WHEREOF the parties hereto have caused their corporate seals to be hereunto affixed the day and year first above written.