CONSENT AND PRIORITY AGREEMENT (Toronto-Dominion Bank)
Agreement where the chargeholder (TD Bank) consents to the registration of the housing covenant on the property title.
CONSENT AND PRIORITY AGREEMENT
WHEREAS THE TORONTO-DOMINION BANK (the “Chargeholder”) is the holder of those Mortgages registered in the Victoria Land Title Officer under numbers FA137223 (as modified by FB24855 and CA4241860) and CA3750259 (as modified by CA4264643) and those Assignments of Rents registered in the Victoria Land Title Officer under numbers FA137224 and CA3750260 (together, the “Charges”) encumbering the lands described in item 2 of the Land Title Act Form C attached hereto (the “Lands”);
THEREFORE THIS CONSENT AND PRIORITY AGREEMENT IS EVIDENCE THAT IN CONSIDERATION OF $1.00 AND OTHER GOOD AND VALUABLE CONSIDERATION PAID BY THE TRANSFEREE TO THE CHARGEHOLDER:
The Chargeholder hereby consents to the granting and registration of the 219 Covenant attached hereto (the “Covenant”) and the Chargeholder hereby agrees that the Covenant shall be binding upon its interest in and to the Lands.
The Chargeholder hereby grants to the transferee described in item 6 of the Land Title Act Form C attached hereto priority for the Covenant over the Chargeholder’s right, title and interest in and to the Lands, and the Chargeholder does hereby postpone the Charges and all of its right, title and interest thereunder to the Covenant as if the Covenant had been executed, delivered and registered prior to the execution, delivery and registration of the Charges.
IN WITNESS WHEREOF, the Chargeholder has executed and delivered this Consent and Priority Agreement by executing the Land Title Act Form D above which is attached hereto and forms part of this Agreement.