332/2010

Land and Title Survey Authority of British Columbia

November 22, 2010

January 1, 2011

Land Title Act

Land Title Act (Board of Directors) Regulation

Definition

In this regulation, Act means the Land Title

Act .

Amendments to

section 158 of the Act

A person who is the registered owner in fee simple of an existing parcel together

with an undivided share or shares in one or more parcels that individually or collectively

are contiguous to the existing parcel may, with the approval of

the municipality, if the lands are situate in a municipality, or

the minister charged with administration of the Transportation

Act , if the lands are situate in unorganized

territory,

apply to the registrar for a new indefeasible title to his or her

lands.

An application under subsection (1) must be made pursuant to the appropriate

provisions of

section

192 of the Act.

The lands must be described in the indefeasible title in the manner set out in

section 11

(10) of the Land Title Act Regulation, B.C. Reg. 334/79, and together they

constitute a single parcel.

If the parcels are shown on different subdivision plans, the registrar may require

the applicant to deposit an explanatory plan.

Land title district boundaries

The boundaries of the land title districts are those specified in

Schedule

Prescribed mortgage terms

The standard mortgage terms set out in

Schedule B, referred to as the "prescribed

standard mortgage terms", are prescribed for the purposes of

section 227 of the Act.

Excluded instruments

Division 6 of

Part 14 of the Act does not apply to

an instrument that, without the signature of the owner of an interest, operates

to transfer, assign, charge or otherwise affect the interest,

an instrument in the form prescribed under B.C. Reg. 334/79 or another

enactment,

an instrument in the form approved by the Director of Land Titles, other than a

general instrument in the form approved by the Director of Land Titles under

section 233 of the

Act, or

an instrument creating a floating charge that does not also create a mortgage of

specific land.

Nothing in subsection (1) operates to disapply Division 6 of

Part 14 of the Act to

instruments that create or constitute

an assignment of rents that is not part of a mortgage,

an easement,

an equitable charge other than a floating charge,

an agreement to extend a registered mortgage or charge over other

land,

an agreement to modify a charge,

a lease, option to lease or agreement to renew a lease,

an option to purchase,

a right of first refusal,

a right to purchase,

a statutory right of way,

a positive or negative covenant, other than a statutory building scheme in the

form approved by the Director of Land Titles,

an assignment of a registered charge, other than an assignment of a registered

mortgage or registered judgment in the form approved by the Director of Land Titles,

a release or discharge of a charge or interest.

Schedule A

Land Title District Boundaries

Kamloops Land Title District

All that portion of the Province of British Columbia which is contained within

the following boundaries:

Commencing at the point of intersection of the southerly boundary of the Province

with the easterly boundary of the watershed of Kettle River and Christina Lake; thence

northerly along said watershed boundary to the point thereon which lies due East of the

southeast corner of Lot 968, Similkameen Division of Yale Land District; thence west to said

corner, thence northerly and westerly along the boundaries of Lot 968 to the easterly limit

of the right of way of the Columbia and Western Railway; thence northerly along said limit

to the westerly boundary of the watershed of the Arrow Lakes; thence northerly along said

boundary to the southerly boundary of Lot 4252, Osoyoos Division of Yale Land District;

thence easterly along said boundary of Lot 4252 to the southeast corner thereof; thence due

east to the meridian through the southeast corner of Lot 2151, Osoyoos Division of Yale Land

District; thence north to said corner; thence northerly along the easterly boundary of Lot

2151 to the northeast corner thereof; thence due North to the westerly boundary of the

watershed of the Arrow Lakes; thence northerly along said boundary and that of the watershed

of Columbia River to the southerly boundary of the watershed of Eagle River; thence westerly

along said boundary to the southerly boundary of Township 22, Range 7, west of the sixth

meridian; thence westerly along said boundary to the easterly boundary of Lot 497, Kamloops

Division of Yale Land District; thence northerly along the easterly boundary of Lot 497 to

the northeast corner thereof, being a point on the southerly bank of Eagle River; thence

westerly along the northerly boundary of Lot 497 to the westerly boundary of Township 22,

Range 7, west of the sixth meridian; thence northerly along the said westerly boundary of

said township to the northwesterly boundary of the watershed of Eagle River; thence

northeasterly along said boundary to the westerly boundary of the watershed of Columbia

River; thence northerly along said boundary to and along the westerly boundary of the

watershed of Canoe River to the point thereon which lies due East of the northeast corner of

Lot 3103, Kamloops Division of Yale Land District; thence west to said corner; thence

westerly along the northerly boundary of Lot 3103 and the southerly boundary of Lot 7383,

Cariboo Land District, to the southwest corner of Lot 7383; thence due West to the northerly

boundary of the watershed of North Thompson River; thence northwesterly along said boundary

and that of Clearwater River to the westerly boundary of the watershed of Clearwater River

above the mouth of Mahood River; thence southerly along said boundary to the point thereon

which lies due East of the northeast corner of Lillooet Land District, said corner being

940.46 m (forty-six and seventy-five hundredths chains), more or less, easterly from

Mile-post Sixty as set on the surveyed fifty-second parallel of the north latitude; thence

west to said corner; thence westerly along said parallel to the easterly boundary of Lot

85A; thence southerly, westerly, and northerly along the easterly, southerly and westerly

boundaries of Lot 85A to the surveyed fifty-second parallel; thence westerly along said

parallel to the easterly boundary of Lot 128; thence southerly, westerly and northerly along

the easterly, southerly and westerly boundaries of Lot 128 to the surveyed fifty-second

parallel; thence westerly along said surveyed parallel to the easterly boundary of Lot 539

all the lots herein above mentioned, beginning with Lot 7383, being in Cariboo Land

District; thence southerly, westerly and northerly along the easterly, southerly and

westerly boundaries of Lot 539 to the surveyed fifty-second parallel aforesaid; thence

westerly along said parallel to the intersection thereof with the surveyed one hundred

twenty-fourth meridian of west longitude; thence northerly along said surveyed meridian to

the fifty-second parallel; thence westerly along said parallel to the middle line of Tatla

Lake; thence southwesterly along said middle line to a point thereon due South of the

southwest corner of Lot 561, Range 3, Coast Land District; thence north to and northerly

along the westerly boundary of Lot 561 produced to the fifty-second parallel; thence

westerly along said parallel to the westerly boundary of the watershed of Charlotte Lake;

thence southerly along said boundary and the westerly boundary of the watershed of

Klinaklini Lake (crossing Klinaklini Lake at its outlet) to the westerly boundary of the

watershed of Mosley Creek; thence southerly along said boundary produced to the middle line

of Homathko River; thence northeasterly along said middle line to the point thereon closest

to the left bank of Doran Creek; thence to and southeasterly along the westerly boundary of

the watershed of Doran Creek to and easterly along the easterly boundary of the watershed of

Homathko River to the westerly boundary of the watershed of Chilko Lake, being a point on

the Cascade Mountains, as defined by the

Interpretation

Act ; thence southerly along the Cascade Mountains to the easterly

boundary of the watershed of the streams flowing westerly and southerly into Toba and Jervis

Inlets and into Howe Sound; thence southeasterly along said boundary to the northerly

boundary of the watershed of Soo River; thence easterly along said boundary to the point of

intersection thereof with the line drawn N. 45° W. from the post set by survey and

purporting to mark the parallel of north latitude of 50° 14' about 160.93 m (eight chains)

west of Soo River; thence S. 451 E. to said post; thence east to the easterly boundary of

the watershed of Green River; thence southerly along said boundary to the northerly boundary

of the watershed of Billygoat Creek; thence southeasterly along said boundary to the point

thereon which lies due West of the northwest corner of Lot 5536, Group 1, New Westminster

Land District; thence east to said corner; thence easterly along the northerly boundary of

Lot 5536 to the northeast corner thereof; thence due East to the Cascade Mountains

aforesaid; thence southerly along the Cascade Mountains to the southerly boundary of the

Province; thence easterly along said boundary to the point of commencement.

Nelson Land Title District

All that portion of the Province of British Columbia which is contained within

the following boundaries:

Commencing at the point of intersection of the southerly boundary of the Province

with the easterly boundary of the watershed of Kettle River and Christina Lake; thence

northerly along said watershed boundary to the point thereon which lies due East of the

southeast corner of Lot 968, Similkameen Division of Yale Land District; thence west to said

corner; thence northerly and westerly along the boundaries of Lot 968 to the easterly limit

of the right of way of the Columbia and Western Railway; thence northerly along said limit

to the westerly boundary of the watershed of the Arrow Lakes; thence northerly along said

boundary to the southerly boundary of Lot 4252, Osoyoos Division of Yale Land District;

thence easterly along said boundary of Lot 4252 to the southeast corner thereof; thence due

East to the meridian through the southeast corner of Lot 2151, Osoyoos Division of Yale Land

District; thence north to said corner; thence northerly along the easterly boundary of Lot

2151 to the northeast corner thereof; thence due North to the westerly boundary of the

watershed of the Arrow Lakes; thence northerly along said boundary and that of the watershed

of Columbia River to the southerly boundary of the watershed of Eagle River; thence westerly

along said boundary to the southerly boundary of Township 22, Range 7, west of the sixth

meridian; thence westerly along said boundary to the easterly boundary of Lot 497, Kamloops

Division of Yale Land District; thence northerly along the easterly boundary of Lot 497 to

the northeast corner thereof, being a point on the southerly bank of Eagle River; thence

westerly along the northerly boundary of Lot 497 to the westerly boundary of Township 22;

thence northerly along the westerly boundary of said township to the northwesterly boundary

of the watershed of Eagle River; thence northeasterly along said boundary to the westerly

boundary of the watershed of Columbia River; thence northerly along said boundary to the

southerly boundary of the watershed of Foster Creek; thence easterly along said boundary to

Canoe River and continuing easterly across Canoe River to and along the southerly boundaries

of the watersheds of Baker Creek and Hugh Allan Creek to the easterly boundary of the

Province; thence in a southeasterly direction along said Provincial boundary to the

southeast corner of the Province; thence westerly along the southerly boundary of the

Province to the point of commencement.

New Westminster Land Title District

All that portion of the Province which is contained within the following

boundaries:

Commencing at the point of intersection of the Cascade Mountains, as defined by

the

Interpretation Act with the southerly boundary of the

Province; thence westerly along said boundary to the middle line of the Strait of Georgia;

thence northwesterly along said middle line to the point thereon which lies due West of the

most northerly corner of Lot 5740, Group 1, New Westminster Land District; thence east to

said corner; thence southeasterly in a straight line to the most westerly corner of Lot

5586; thence southeasterly along the southwesterly boundaries of Lots 5586, 5548, and 5547

to the most southerly corner of Lot 5547; thence southeasterly in a straight line to that

point which lies 247.32 m (nine hundred feet) due South from the southeast corner of

Musqueam Indian Reserve No. 2, being a point in the North Fork of the North Arm of the

Fraser River; thence in a general southeasterly direction in said North Fork [passing to the

South of Deering Island (Lot 306), Stewart Island (Lot 308), and Cowan Island (Lot 307), and

to the north of Iona Island (Lot 236), Woods Island (Lot 309), and Richmond Island] and

continuing easterly to and along the middle line of said North Arm to the southerly

prolongation of the westerly boundary of Lot 311; thence northerly along said prolongation

to the line drawn parallel to and at a perpendicular distance of 60.96 m (two hundred feet)

measured southerly from low-water mark of the northerly shore of said North Arm; thence

easterly along said mark of the northerly shore of said North Arm; thence easterly along

said line [but passing to the south of Rowling Island (Lot 2100) and along the middle line

of the waterway separating Mitchell Island (Lot 527) from the northerly shore of said North

Arm] to the southerly prolongation of the easterly boundary of Lot 331; thence northerly

along said prolongation to and along said easterly boundary and the easterly boundaries of

Lots 335, 339, 49, 36, and of the Hastings Townsite produced to the middle line of Burrard

Inlet; thence easterly along said middle line to the southerly prolongation of the middle

line of Indian Arm; thence northerly along said prolongation and said middle line and that

of Indian River (passing to the east of Lot 177 and Croker Island and to the west of Boulder

and Racoon Islands) to that point on said middle line of Indian River which lies due East of

the southeast corner of Lot 2029; thence due East to the easterly boundary of the watershed

of the Indian River; thence northerly along said boundary and that of the watershed of the

Mamquam, Cheakamus and Green Rivers to the northerly boundary of the watershed of Billygoat

Creek; thence southeasterly along said boundary to the point thereon which lies due West of

the northwest corner of Lot 5536, Group 1, New Westminster Land District; thence east to

said corner; thence easterly along the northerly boundary of Lot 5536 to the northeast

corner thereof; thence due east to the Cascade Mountains aforesaid; thence southerly along

the Cascade Mountains to the southerly boundary of the Province; thence westerly along said

boundary to the point of commencement all the lots herein above mentioned being in Group 1,

New Westminster Land District.

Prince George Land Title District

All that portion of the Province of British Columbia which is contained within

the following boundaries:

Commencing at the point of intersection of the southerly boundary of the

watershed of Hugh Allan Creek with the easterly boundary of the Province of British

Columbia; thence northerly and westerly along the easterly and northerly boundaries of the

Province to the one hundred and twenty-sixth meridian of west longitude; thence south along

said meridian to the northerly boundary of the watershed of Peace River; thence westerly,

southerly and southeasterly along the westerly boundary of the watershed of the Peace River

to the point thereon which lies due North of Mile-post Thirty-four as set on the fifty-fifth

parallel of north latitude as established by survey upon the ground; thence south to said

mile-post; thence easterly along said parallel to the one hundred and twenty-fourth meridian

of west longitude as defined by survey upon the ground; thence southerly along said meridian

to the northerly boundary of Lot 3166, Cariboo Land District; thence westerly along the

northerly boundary of Lot 3166 to the northwest corner thereof; thence southerly along the

westerly boundaries of Lots 3166, 3165, 3164, 3163, 3174R and 3179R, all of Cariboo Land

District, to the southwest corner of Lot 3179R; thence easterly along the southerly boundary

of Lot 3179R to the surveyed one hundred and twenty-fourth meridian; thence southerly along

said meridian to the northerly boundary of Lot 4036, Range 5, Coast Land District; thence

easterly along the northerly boundaries of Lots 4036 and 4039 to the northeast corner of Lot

4039; thence southerly along the easterly boundaries of Lots 4039, 4038, 4040, 2951, 2953,

2830, 2823, 2803 and 2790 to the southeast corner of Lot 2790 and continuing southerly

across Stuart River to and along the easterly boundary of Lot 2787 to the southeast corner

thereof; thence westerly along the southerly boundary of Lot 2787 to the southwest corner

thereof; thence due West to the surveyed one hundred and twenty-fourth meridian; thence

southerly along said meridian to the northerly boundary of Township 11; thence easterly

along said boundary and that of Township 10 to the northeast corner of Township 10 all the

lots and townships herein above mentioned, beginning with Lot 4036 and Township 11, being in

Range 5, Coast Land District; thence southerly along the easterly boundaries of said

Township 10 and of Townships 1 and 8, Range 4, Coast Land District, to the southeast corner

of Township 8; thence westerly along the theoretical south boundaries of Township 8 and of

Township 7, Range 4, Coast Land District, to the surveyed one hundred and twenty-fourth

meridian; thence southerly along said meridian to the northerly boundary of Lot 9463,

Cariboo Land District; thence westerly and southerly along the boundaries of Lot 9463 to the

southwest corner thereof, being a point on the northerly shore of Batnuni Lake, and

continuing southerly in a straight line across said lake to the northwest corner of Lot

9464, Cariboo Land District; thence southerly and easterly along the boundaries of Lot 9464

to the surveyed one hundred and twenty-fourth meridian; thence southerly along said meridian

to the fifty-third parallel of north latitude as established by survey upon the ground;

thence westerly along said parallel to Mile-post Ninety-three as set thereon; thence due

West to the Cascade Mountains, as defined by the

Interpretation

Act , thence southeasterly along the Cascade Mountains to the

northerly boundary of the watershed of Charlotte Lake; thence westerly along the northerly

boundary of said watershed to the westerly boundary thereof; thence southerly along said

boundary (crossing Charlotte Lake at its outlet) to the fifty-second parallel of north

latitude; thence east along said parallel to the point thereon which lies due North of the

northwest corner of Lot 561, Range 3, Coast Land District; thence south to said corner;

thence southerly along the westerly boundary of Lot 561 produced to the middle line of Tatla

Lake; thence northeasterly along said middle line to the fifty-second parallel; thence east

along said parallel to the surveyed one hundred and twenty-fourth meridian; thence southerly

along said surveyed meridian to the surveyed fifty-second parallel of north latitude; thence

easterly along said parallel to the westerly boundary of Lot 539, Cariboo Land District;

thence southerly, easterly, and northerly along the boundaries of Lot 539 to the surveyed

fifty-second parallel; thence easterly along said parallel to the westerly boundary of Lot

128; thence southerly, easterly and northerly along the boundaries of Lot 128 to the

surveyed fifty-second parallel; thence easterly along said parallel to the westerly boundary

of Lot 85A; thence southerly, easterly and northerly along the boundaries of Lot 85A to the

surveyed fifty-second parallel; thence easterly along said parallel to the easterly

extremity thereof; thence due East to the westerly boundary of the watershed of the streams

flowing into Clearwater River above the mouth of Mahood River; thence northerly, easterly

and southerly along the westerly, northerly, and easterly boundaries of the watershed of

Clearwater River to the northerly boundary of the watershed of North Thompson River; thence

easterly along said northerly boundary to the nearest point thereon due West of the

southwest corner of Lot 7383, Cariboo Land District; thence east to said corner; thence

easterly along the southerly boundary of said lot and the northerly boundary of Lot 3103,

Kamloops Divison of Yale Land District, to the northeast corner of Lot 3103; thence due East

to the westerly boundary of the watershed of Canoe River; thence southerly along said

boundary to the southerly boundary of the watershed of Foster Creek; thence easterly along

said boundary to Canoe River and continuing easterly across Canoe River to and along the

southerly boundary of the watershed of Baker Creek and that of Hugh Allan Creek to the point

of commencement.

Prince Rupert Land Title District

All that portion of the Province of British Columbia which is contained within

the following boundaries:

Commencing at the northwest corner of the Province; thence in a southeasterly

direction along the westerly boundary of the Province to the fifty-first parallel of north

latitude; thence northerly in a straight line to the point of junction of the southerly

prolongation of the middle lines of Milbanke Sound and Hecate Strait; thence northeasterly

to and along the middle lines of Milbanke Sound, Finlayson Channel and Oscar Passage and

continuing easterly across Mathieson Channel to and along the middle line of Salmon Bay to

the head of said bay; thence due East to the easterly boundary of the watershed of Mathieson

Channel; thence north easterly along said boundary and that of the watershed of Gardner

Canal to the Cascade Mountains, as defined by the

Interpretation

Act ; thence southeasterly along the Cascade Mountains to the first

point thereon which lies due West of Mile-post Ninety-three set on the fifty-third parallel

of north latitude as established by survey upon the ground; thence east to said mile-post;

thence easterly along said parallel to the one hundred and twenty-fourth meridian of west

longitude as defined by survey; thence northerly along said meridian to the southerly

boundary of Lot 9464, Cariboo Land District; thence westerly and northerly along the

boundaries of Lot 9464 to the northwest corner thereof, being a point on the southerly shore

of Batnuni Lake; thence northerly in a straight line across said lake to the southwest

corner of Lot 9463, Cariboo Land District; thence northerly and easterly along the

boundaries of Lot 9463 to the surveyed one hundred and twenty-fourth meridian; thence

northerly along said meridian to the theoretical south boundary of Township 7, Range 4,

Coast Land District; thence easterly along the south boundary of Township 7 and that of

Township 8, Range 4, Coast Land District, to the southeast corner of Township 8; thence

northerly along the easterly boundaries of Townships 8 and 1, Range 4, Coast Land District,

and of Township 10, Range 5, Coast Land District, to the northeast corner of Township 10;

thence westerly along the northerly boundaries of Townships 10 and 11 to the surveyed one

hundred and twenty-fourth meridian; thence northerly along said meridian to the point

thereon which lies due West of the southwest corner of Lot 2787, Range 5, Coast Land

District; thence east to said corner; thence easterly along the southerly boundary of Lot

2787 to the southeast corner thereof; thence northerly along the easterly boundary of Lot

2787 to the northeast corner thereof and continuing northerly across Stuart River to and

along the easterly boundaries of Lots 2790, 2803, 2823, 2830, 2953, 2951, 4040, 4038 and

4039 to the northeast corner of Lot 4039; thence westerly along the northerly boundaries of

Lots 4039 and 4036 to the surveyed one hundred and twenty-fourth meridian all the townships

and lots herein above mentioned, beginning with Township 10 and Lot 2787, being in Range 5,

Coast Land District; thence northerly along said meridian to the southerly boundary of Lot

3179R, Cariboo Land District; thence westerly along said boundary of Lot 3179R to the

southwest corner thereof; thence northerly along the westerly boundaries of Lots 3179R,

3174R, 3163, 3164, 3165 and 3166, all of Cariboo Land District, to the northwest corner of

Lot 3166; thence easterly along the northerly boundary of Lot 3166 to the surveyed one

hundred and twenty-fourth meridian; thence northerly along said meridian to the fifty-fifth

parallel of north latitude as defined by survey upon the ground; thence westerly along said

parallel to Mile-post Thirty-four as set thereon; thence due North to the southwesterly

boundary of the watershed of the Peace River; thence northwesterly, northerly and easterly

along the boundary of the watershed of the Peace River to the one hundred and twenty-sixth

meridian of west longitude; thence north along said meridian to the northerly boundary of

the Province; thence westerly along said boundary to the point of

commencement.

Vancouver Land Title District

All that portion of the Province of British Columbia which is contained within

the following boundaries:

Commencing at that point on the middle line of the Strait of Georgia which lies

due West of the most northerly corner of Lot 5740, Group 1, New Westminster Land District;

thence east to said corner; thence southeasterly in a straight line to the most westerly

corner of Lot 5586; thence southeasterly along the southwesterly boundaries of Lots 5586,

5548 and 5547 to the most southerly corner of Lot 5547; thence southeasterly in a straight

line to that point which lies 274.32 m (nine hundred feet) due south from the southeast

corner of Musqueam Indian Reserve No. 2, being a point in the North Fork of the North Arm of

the Fraser River; thence in a general southeasterly direction in said North Fork [passing to

the south of Deering Island (Lot 306), Stewart Island (Lot 308), and Cowan Island (Lot 307),

and to the north of Iona Island (Lot 236), Woods Island (Lot 309), and Richmond Island] and

continuing easterly to and along the middle line of said North Arm to the southerly

prolongation of the westerly boundary of Lot 311; thence northerly along said prolongation

to the line drawn parallel to and at a perpendicular distance of 60.96 m (two hundred feet)

measured southerly from low-water mark of the northerly shore of said North Arm; thence

easterly along said line [but passing to the south of Rowling Island (Lot 2100) and along

the middle line of the waterway separating Mitchell Island (Lot 527) from the northerly

shore of said North Arm] to the southerly prolongation of the easterly boundary of Lot 331;

thence northerly along said prolongation to and along said easterly boundary and the

easterly boundaries of Lots 335, 339, 49, 36, and of the Hastings Townsite produced to the

middle line of Burrard Inlet; thence easterly along said middle line to the southerly

prolongation of the middle line of Indian Arm; thence northerly along said prolongation and

said middle line and that of Indian River (passing to the east of Lot 177 and Croker Island

and to the west of Boulder and Racoon Islands) to that point on said middle line of Indian

River which lies due East of the southeast corner of Lot 2029; thence due East to the

easterly boundary of the watershed of the Indian River; thence northerly along said boundary

and that of the watershed of the Mamquam, Cheakamus, and Green Rivers to the point thereon

which lies due East of the survey-post set about 160.93 m (eight chains) west of the Soo

River and purporting to mark the parallel of 50° 14'; thence west to said post; thence N.

45° W. to the northerly boundary of the watershed of Soo River; thence westerly along said

boundary to the easterly boundary of the watershed of the streams flowing westerly and

southerly into Howe Sound and Jervis Inlet; thence northwesterly along said boundary to the

southerly boundary of the watershed of Toba River; thence southwesterly along said boundary

and that of the watershed of the streams flowing northerly into Toba Inlet and continuing

southwesterly along the northerly boundary of the watershed of Daniels (West Fork of Powell)

River to the westerly boundary thereof; thence southerly along said boundary and the

easterly boundary of the watershed of Forbes Creek to the southerly boundary of the

watershed of Forbes Creek; thence westerly along said boundary to the easterly shore of

Homfray Channel; thence southwesterly along said shore to Bohn Point; thence due West to the

middle line of Homfray Channel; thence in a general northwesterly direction along said

middle line and middle lines of Pryce Channel and North Passage produced to the middle line

of Calm Channel; thence southerly along said middle line and the middle lines of Lewis

Channel and False Passage (passing to the west of Kinghorn Island and to the east of the

Powell Islands) produced to the middle line of the Strait of Georgia; thence southeasterly

along said middle line to the point thereon due east of the northerly end of Hornby Island;

thence in a straight line to the northerly end of the middle line of Sabine Channel; thence

southeasterly along said middle line (passing to the east of Jervis and Jedidiah Islands)

and the extension thereof to the point due East of the southerly end of Lasqueti Island;

thence due South to the middle line of the Strait of Georgia; thence southeasterly along

said middle line to the point of commencement all the lots herein above mentioned being in

Group 1, New Westminster District.

Victoria Land Title District

All that portion of the Province of British Columbia which is contained within

the following boundaries:

Commencing at the point of intersection of the middle line of Finlayson Channel

with the westerly prolongation of the middle line of Oscar Passage; thence easterly along

said prolongation and middle line and continuing easterly across Malthusian Channel to and

along the middle line of Salmon Bay to the head of said bay; thence due East to the easterly

boundary of the watershed of Mathieson Channel; thence northeasterly along said boundary and

that of the watershed of Gardner Canal to the Cascade Mountains, as defined by the

Interpretation Act ; thence southeasterly along the Cascade

Mountains to the northerly boundary of the watershed of Charlotte Lake; thence westerly

along the northerly boundary of said watershed to the westerly boundary thereof; thence

southerly along said boundary (crossing Charlotte Lake at its outlet) to the southwesterly

boundary of the watershed of Klinaklini Lake, thence southeasterly along said boundary

(crossing Klinaklini Lake at its outlet) to the westerly boundary of the watershed of Mosley

Creek; thence southerly along said boundary produced to the middle line of Homathko River;

thence northeasterly along said middle line to the point thereon closest to the left bank of

Doran Creek; thence to and southeasterly along the westerly boundary of the watershed of

Doran Creek to and easterly along the easterly boundary of the watershed of Homathko River

to the westerly boundary of the watershed of Chilko Lake, being a point on the Cascade

Mountains aforesaid; thence southerly along the Cascade Mountains to the southerly boundary

of the watershed of Toba River; thence southwesterly along said boundary and that of the

watershed of the streams flowing northerly into Toba Inlet and continuing southwesterly

along the northerly boundary of the watershed of Daniels (West Fork of Powell) River to the

westerly boundary thereof; thence southerly along said boundary and the easterly boundary of

the watershed of Forbes Creek to the southerly boundary of the watershed of Forbes Creek;

thence westerly along said boundary to the easterly shore of Homfray Channel; thence

southwesterly along said shore to Bohn Point; thence due West to the middle line of Homfray

Channel; thence in a general northwesterly direction along said middle line and the middle

lines of Pryce Channel and North Passage produced to the middle line of Calm Channel; thence

southerly along said middle line and the middle lines of Lewis Channel and False Passage

(passing to the west of Kinghorn Island and to the east of the Powell Islands) produced to

the middle line of the Strait of Georgia; thence southeasterly along said middle line to the

point thereon due East of the northerly end of Hornby Island; thence in a straight line to

the northerly end of the middle of Sabine Channel; thence southeasterly along said middle

line (passing to the east of Jervis and Jedidiah Islands) and the extension thereof to the

point due East of the southerly end of Lasqueti Island; thence due South to the middle line

of the Strait of Georgia; thence southeasterly along said middle line to the first point of

contact with the southerly boundary of the Province; thence southerly and westerly along

said southerly boundary and northwesterly along the westerly boundary of the Province to the

fifty-first parallel of north latitude; thence northerly in a straight line to the point of

juncture of the southerly prolongation of the middle lines of Milbanke Sound and Hecate

Strait; thence northeasterly to and along the middle lines of Milbanke Sound and Finlayson

Channel to the point of commencement.

Schedule B

Prescribed Standard Mortgage Terms

Mortgage Terms

Part 2

These mortgage terms are considered to be included in and form a part of every

mortgage which incorporates prescribed standard mortgage terms, either by an election in the

mortgage form or by operation of law.

Interpretation

In these mortgage terms:

borrower means the person or persons named in the

mortgage form as a borrower;

borrower mailing address means the postal address of the

borrower set out in the mortgage form or the most recent

postal address provided in a written notice given by the borrower to the

lender under these mortgage terms;

borrower's promises and agreements means any one or more of

the borrower 's obligations, promises and agreements contained in

this mortgage ;

court means a court or judge having jurisdiction in any

matter arising out of this mortgage ;

covenantor means a person who signs the mortgage

form as a covenantor;

default includes each of the events of default listed in

section 7

(1);

interest means interest at the interest rate

shown on the mortgage form ;

interest adjustment date means the interest adjustment date

shown on the mortgage form ;

interest calculation period means the period or periods for

the calculation of interest shown on the mortgage form ;

interest rate means the interest rate shown on the

mortgage form ;

land means all the borrower 's present and

future interest in the land described in the mortgage form including

every incidental right, benefit or privilege attaching to that land or running with it

and all buildings and improvements that are now or later constructed on or made to that

land;

lease means the leasehold interest, if any, of the

borrower referred to in the mortgage form ;

lender means the person or persons named in the

mortgage form as a lender and includes any person to whom the lender

transfers this mortgage ;

lender mailing address means the postal address shown on

the mortgage form or the most recent postal address provided in a written

notice given by the lender to the borrower under these

mortgage terms;

loan payment means the amount of each periodic payment

shown on the mortgage form ;

maturity date means the balance due date shown on the

mortgage form and is the date on which all unpaid mortgage

money becomes due and payable, or such earlier date on which the

lender can lawfully require payment of the mortgage

money ;

mortgage form means the instrument in the form approved as

a mortgage by the Director of Land Titles under the Land Title

Act and all schedules and addenda to the instrument;

mortgage money means the principal amount ,

interest and any other money owed by the borrower under

this mortgage , the payment of which is secured by this

mortgage ;

payment date means each payment date commencing on the

first payment date shown on the mortgage form ;

place of payment means the place of payment shown on the

mortgage form or any other place specified in a written notice given by

the lender to the borrower under these mortgage

terms;

principal amount means the amount of money shown as the

principal amount on the mortgage form as reduced by payments made by the

borrower from time to time, or increased by the advance or readvance of

money to the borrower by the lender from time to time, and

includes all money that is later added to the principal amount under these mortgage

terms;

receiver means a receiver or receiver manager appointed by

the lender under this mortgage ;

taxes means all taxes, rates and assessments of every kind

which are payable by any person in connection with this mortgage , the

land or its use and occupation, or arising out of any transaction

between the borrower and the lender , but does not include

the lender 's income tax;

this mortgage means the combination of the mortgage

form and these mortgage terms.

In this mortgage the singular includes the plural and vice

versa.

What this mortgage does

In return for the lender agreeing to lend the principal

amount to the borrower , the borrower grants and

mortgages the land to the lender as security for repayment

of the mortgage money and for performance of all the borrower's

promises and agreements .

If the interest mortgaged is described in the mortgage form as a

leasehold interest, the grant in subsection (1) shall be construed as a charge of the

unexpired term of the lease less the last month of that term.

This means that

this mortgage shall be a charge on the land, and

the borrower releases to the lender all the

borrower 's claim to the land until the

borrower has paid the mortgage money to the

lender , in accordance with these mortgage terms, and has performed

all of the borrower's promises and agreements .

The borrower may continue to remain in possession of the

land as long as the borrower performs all of the

borrower's promises and agreements .

When the borrower has paid the mortgage money and

performed all the borrower's promises and agreements under this

mortgage and the lender has no obligation to make any further

advances or readvances, the lender will no longer be entitled to enforce

any rights under this mortgage and the borrower will be

entitled, at the borrower 's cost, to receive a discharge of this

mortgage . The discharge must be signed by the lender and must

be registered by the borrower in the land title office to cancel the

registration of this mortgage against the land .

Interest

Interest is chargeable on the mortgage money and is payable by

the borrower .

Interest is not payable in advance. This means that

interest must be earned before it is payable.

Interest on advances or readvances of the principal amount

starts on the date and on the amount of each advance or readvance and accrues on the

principal amount until the borrower has paid all the

mortgage money .

Interest payable on any part of the principal amount

advanced before the interest adjustment date is due and payable to the

lender on the interest adjustment date .

At the end of each interest calculation period , unpaid accrued

interest will be added to the principal amount and bear

interest . This is known as compound interest.

Payment of the mortgage money

The borrower promises to pay the mortgage money to

the lender at the place of payment in accordance with the

payment provisions set out in the mortgage form and these mortgage

terms.

Promises of the borrower

The borrower promises

to pay all taxes when they are due and to send to the

lender at the place of payment , or at any other place

the lender requires, all notices of taxes which the

borrower receives,

if the lender requires the borrower to do so, to

pay to the lender

on each payment date the amount of money estimated by the

lender to be sufficient to permit the lender to pay

the taxes when they are due, and

any money in addition to the money already paid towards

taxes so that the lender will be able to pay the

taxes in full,

to apply for all government grants, assistance and rebates in respect of

taxes ,

ranks ahead of this mortgage ,

to keep all buildings and improvements which form part of the

land in good condition and to repair them as the

lender reasonably requires,

to sign any other document that the lender reasonably requires

to ensure that payment of the mortgage money is secured by this

mortgage or by any other document the borrower has agreed to

give as security,

not to do anything that has the effect of reducing the value of the

land ,

not to tear down any building or part of a building which forms part of the

land ,

not to make any alteration or improvement to any building which forms part of

the land without the written consent of the

lender ,

if the borrower has rented the land to a tenant,

to keep, if required by the lender , records of all rents received and

of all expenses paid by the borrower in connection with the

land and, at least annually, have a statement of revenue and expenses

for the land prepared by a professional accountant if the

lender requires and to give a copy of the statement to the

lender if the lender requires the

borrower to do so,

to insure and keep insured against the risk of fire and other risks and losses

that the lender asks the borrower to insure against,

with an insurance company licensed to do business in British Columbia, all buildings

and improvements on the land to their full insurable value on a replacement cost basis

and to pay all insurance premiums when due,

to send a copy of each insurance policy and renewal certificate to the

lender at the place of payment ,

to pay all of the lender 's costs, including legal fees on a

solicitor and client basis, to

prepare and register this mortgage , including all necessary

steps to advance and secure the mortgage money and to report to the

lender ,

collect the mortgage money ,

iii

enforce the terms of this mortgage , including efforts to

compel the borrower to perform the borrower's promises and

agreements ,

do anything which the borrower has promised to do but has not

done, and

prepare and give the borrower a discharge of this

mortgage when the borrower has paid all money due under

this mortgage and the borrower wants it to be

discharged,

if the lender requires the borrower to do so,

give the lender in each year post-dated cheques for all

loan payments due for that year and for taxes ,

and

arrange for all loan payments to be made by pre-authorized

chequing,

to pay any money which, if not paid, would result in a default under any

charge or encumbrance having priority over this mortgage or which might

result in the sale of the land if not paid, and

to pay and cause to be discharged any charges or encumbrances described in

subsection

(2) (

b) which are not prior encumbrances permitted by the

lender under this mortgage .

The borrower declares to the lender

that

the borrower owns the land and has the right to

mortgage the land to the lender ,

the borrower 's title to the land is subject only

those charges and encumbrances that are registered in the land title office

at the time the borrower signed the mortgage form ,

and

any unregistered charges and encumbrances that the lender has

agreed to in writing, and

subject to paragraph (b), the

borrower

has not given any other charge or encumbrance against the

land , and

has no knowledge of any other claim against the

land .

The insurance policy or policies required by subsection (1) (

k) shall contain

a mortgage clause approved by the lender that states that payment of any

loss shall be made to the lender at the place of payment

or any other place the lender requires and, if this

mortgage is not a first mortgage, the amount of any payment made by the

insurance company shall be paid to the borrower 's lenders in the order of

their priorities.

The borrower gives up any statutory right to require the

insurance proceeds to be applied in any particular manner.

Agreements between the borrower and the lender

The lender will use the money paid to the lender

under

section 5

(1) (

b) to pay taxes unless there is a

default in which case the lender may apply the money in

payment of the mortgage money .

By this mortgage the borrower grants and mortgages

any additional or greater interest in the land that the

borrower may later acquire.

Any money paid to the lender under this mortgage

shall,

prior to a default , be applied first in payment of

interest , secondly in payment of the principal amount

and thirdly in payment of all other money owed by the borrower under

this mortgage , and

after a default , be applied in any manner the

lender chooses.

The lender may at any reasonable time inspect the

land and any buildings and improvements which form part of

it.

If the lender takes possession of the land the

lender will not be responsible for maintaining and preserving the

land and need only account to the borrower for any money

which the lender actually receives in connection with this

mortgage or the land .

The lender may spend money to perform any of the

borrower's promises and agreements which the borrower

has not performed and any money so spent shall be added to the principal

amount , bear interest from the date that the money was so spent, and be

immediately due and payable to the lender .

If the borrower wants to give any notice to the

lender , the borrower must do so by having it delivered

to the lender personally or by sending it by registered or certified mail

to the lender mailing address or to any other address later specified in

writing by the lender to the borrower .

If the lender wants to give any notice to the

borrower , the lender must do so by having it delivered

to the borrower personally or by sending it by registered or certified

mail to the borrower mailing address or to any other address later

specified in writing by the borrower to the

lender .

Any notice sent by mail is considered to have been received 5 days after it is

mailed.

Any notice to be given by the borrower to the

lender or vice versa during a mail strike or disruption must be

delivered rather than sent by mail.

The borrower is not released from the borrower's promises

and agreements only because the borrower sells the

land .

If the borrower has mortgaged anything else to the

lender better to secure payment of the mortgage money ,

the lender may take all lawful proceedings under any of the mortgages in

any order that the lender chooses.

The lender does not have to advance or readvance the

principal amount or the rest or any further part of the

principal amount to the borrower unless the

lender wants to even though

the borrower has signed this

mortgage ,

this mortgage is registered in the land title office, or

the lender has advanced to the borrower part of

the principal amount .

The lender may deduct from any advance of the principal

amount

any taxes that are due,

any interest that is due and payable to the date of the

advance,

the legal fees and disbursements to prepare and register this

mortgage including other necessary steps to advance and secure the

mortgage money and to report to the lender ,

and

any insurance premium.

The lender 's right of consolidation applies to this

mortgage and to any other mortgages given by the borrower to

the lender . This means that if the borrower has mortgaged

other property to the lender the borrower will not have

the right, after default, to pay off this mortgage or any mortgage of

other property unless the borrower pays the lender all

money owed by the borrower under this mortgage and all of

the mortgages of other property.

Defaults

A default occurs under this mortgage if

the borrower breaks any of the borrower's promises and

agreements ,

the borrower breaks any promise or agreement which the

borrower has made to the lender in a mortgage of any

other land or other property or in any other agreement the

borrower has made with the lender even though the

borrower may not have broken any of the borrower's promises and

agreements ,

the borrower becomes bankrupt,

the land is abandoned or is left unoccupied for 30 or more

consecutive days,

the land or any part of it is expropriated,

the borrower sells or agrees to sell all or any part of the

land or if the borrower leases it or any part of it

without the prior written consent of the lender ,

the borrower gives another mortgage of the land

to someone other than the lender without the prior written consent of

the lender ,

the borrower does not discharge any judgment registered in the

land title office against the land within 30 days after receiving

notice of its registration, or

the borrower allows any claim of builders lien to remain

undischarged on title to the land for more than 30 days unless the

borrower

diligently disputes the validity of the claim by taking all necessary legal

steps to do so,

gives reasonable security to the lender to pay the claim in

full if it is found to be valid, and

iii

authorizes the lender to use the security to pay the lien in

full.

If a default occurs under this mortgage , it will

have the same effect as though a default had occurred under any other

mortgage or agreement between the borrower and the

lender .

Consequences of a default

If a default occurs, all the mortgage money then

owing to the lender will, if the lender chooses, at once

become due and payable.

If a default occurs the lender may, in any order

that the lender chooses, do any one or more of the following:

demand payment of all the mortgage money ;

sue the borrower for the amount of money due;

take proceedings and any other legal steps to compel the

borrower to keep the borrower's promises and

agreements ;

enter upon and take possession of the land ;

sell the land and other property by public auction or private

sale, or lease the land on terms decided by the

lender

on 30 days notice to the borrower if the

default has continued for 30 days, or

without notice to the borrower if the default

has continued for 60 days or more;

apply to the court for an order that the land

be sold on terms approved by the court ;

apply to the court to foreclose the borrower 's

interest in the land so that when the court makes its

final order of foreclosure the borrower 's interest in the

land will be absolutely vested in and belong to the

lender ;

appoint a receiver of the land ;

enter upon and take possession of the land without the

permission of anyone and make any arrangements the lender considers

necessary to

inspect, lease, collect rents or manage the land ,

complete the construction of any building on the land ,

iii

repair any building on the land ;

take whatever action is necessary to take, recover and keep possession of the

land .

Nothing in subsection (2) affects the jurisdiction of the

court .

If the lender sells the land by public auction or

by private sale the lender will use the amount received from the sale to

pay

any real estate agent's commission,

all adjustments usually made on the sale of land ,

all of the lender 's expenses and costs described in subsection

(6), and

the mortgage money

and will pay any surplus

according to an order of the court if the land

is sold by an order of the court , or

to the borrower if the land is sold other than

by an order of the court .

If the money available to pay the mortgage money after payment of

the commission, adjustments and expenses referred to in subsection (4) (

a) to (

c) is not

sufficient to pay all the mortgage money , the borrower

will pay to the lender on demand the amount of the deficiency.

The borrower will pay to the lender on demand all

expenses and costs incurred by the lender in enforcing this

mortgage . These expenses and costs include the lender 's cost of

taking and keeping possession of the land , the cost of the time and

services of the lender or the lender 's employees for so

doing, the lender 's legal fees and disbursements on a solicitor and

client basis, unless the court allows legal fees and disbursements be

paid on a different basis, and all other costs and expenses incurred by the

lender to protect the lender 's interest under

this mortgage . These expenses and costs will be added to the

principal amount , be payable on demand and bear interest

until they are fully paid.

If the lender obtains judgment against the

borrower as a result of a default , the remedies

described in subsection (2) may continue to be used by the lender to

compel the borrower to perform the borrower's promises and

agreements . The lender will continue to be entitled to receive

interest on the mortgage money until the judgment is

paid in full.

If the lender does not exercise any of the

lender 's rights on the happening of a default or does not

ask the borrower to cure it, the lender is not prevented

from later compelling the borrower to cure that default or

exercising any of those rights in connection with that default or any

later default of the same or any other kind.

Construction of buildings or improvements

The borrower will not construct, alter or add to any buildings or

improvements on the land without the prior written consent of the

lender , and then only in accordance with accepted construction

standards, building codes and municipal or government requirements and plans and

specifications approved by the lender .

If this mortgage is intended to finance any construction,

alteration or addition, the lender may make advances of the

principal amount to the borrower based on the progress

of construction. The lender will decide whether or not any advances will

be made, the amount of the advances, and when they will be made.

Leasehold mortgage

This

section applies if the interest mortgaged shown in the mortgage

form is or includes a leasehold interest.

The borrower represents to the lender

that

the lease is owned by the borrower subject only

to those charges and encumbrances that are registered in the land title office at the

time the borrower signs the mortgage form ,

the lease is in good standing,

the borrower has complied with all the borrower's

promises and agreements contained in the lease ,

the borrower has paid all rent that is due and payable under

the lease ,

the lease is not in default , and

the borrower has the right to mortgage the lease

to the lender .

The borrower will

comply with the lease and not do anything that would cause the

lease to be terminated,

immediately give to the lender a copy of any notice or request

received from the landlord,

immediately notify the lender if the landlord advises the

borrower of the landlord's intention to terminate the

lease before the term expires, and

sign any other document the lender requires to ensure that any

greater interest in the land that is acquired by the

borrower is charged by this mortgage .

Any default under the lease is a

default under this mortgage .

The borrower promises the lender that the

borrower will not, without first obtaining the written consent of the

lender ,

surrender or terminate the lease , or

agree to change the terms of the lease .

The lender may perform any promise or agreement of the

borrower under the lease .

Nothing done by the lender under this

section will make the

lender a mortgagee in possession.

Receiver

The borrower appoints both the lender and any

agent of the lender as the borrower 's attorney to appoint

a receiver of the land .

The lender or the lender 's agent may, if any

default happens, appoint a receiver of the

land and the receiver

will be the borrower 's agent and the borrower

will be solely responsible for the receiver 's acts or

omissions,

has power, either in the borrower 's name or in the name of the

lender , to demand, recover and receive income from the

land and start and carry on any action or court

proceeding to collect that income,

may give receipts for income which the receiver

receives,

may carry on any business which the borrower conducted on the

land ,

may lease or sublease the land or any part of it on terms and

conditions that the receiver chooses,

may complete the construction of or repair any building or improvement on the

land ,

may take possession of all or part of the land ,

may manage the land and maintain it in good

condition,

has the power to perform, in whole or in part, the borrower's promises

and agreements , and

has the power to do anything that, in the receiver 's opinion,

will maintain and preserve the land or will increase or preserve the

value or income potential of the land or the borrower 's

business on the land .

From income received the receiver may do any of the following in

any order the receiver chooses:

retain a commission of 5% of the gross income or any higher commission

approved by the court ;

retain enough money to pay or recover the cost to collect the income and to

cover other disbursements;

pay all taxes and the cost of maintaining the

land in good repair, completing the construction of any building or

improvement on the land , supplying goods, utilities and services to the

land and taking steps to preserve the land from damage

by weather, vandalism or any other cause;

pay any money that might, if not paid, result in a default

under any charge or encumbrance having priority over this mortgage or

that might result in the sale of the land if not paid;

pay taxes in connection with anything the

receiver is entitled to do under this

mortgage ;

pay interest to the lender that is due and

payable;

pay all or part of the principal amount to the

lender whether or not it is due and payable;

pay any other money owed by the borrower under this

mortgage ;

pay insurance premiums.

The receiver may borrow money for the purpose of doing anything

the receiver is authorized to do.

Any money borrowed by the receiver , and any

interest charged on that money and all the costs of borrowing, will be

added to and be part of the mortgage money .

A receiver appointed by the lender may be removed

by the lender and the lender may appoint another in the

receiver 's place.

The commission and disbursements of the receiver will be a charge

on the land and will bear interest at the interest

rate .

Nothing done by the receiver under this

section will make the

lender a mortgagee in possession.

Strata lot provisions

This

section applies if the land described in the mortgage form

is or becomes a strata lot created under the Condominium

Act .

The borrower will fulfill all of the borrower 's

obligations as a strata lot owner under the Condominium

Act and the bylaws, rules and regulations of the strata

corporation and will pay all money owed by the borrower to the strata

corporation.

The borrower gives to the lender the right to vote

for the borrower under the bylaws of the strata corporation, but the

lender is not required to do so or to attend or vote at any meeting or

to protect the borrower 's interest.

At the request of the lender , the borrower will

give the lender copies of all notices, financial statements and other

documents given by the strata corporation to the borrower .

The borrower appoints the lender to be the

borrower 's agent to inspect or obtain copies of any records or other

documents of the strata corporation that the borrower is entitled to

inspect or obtain.

If the strata corporation transfers, charges or adds to the common property, or

amends its bylaws without the consent of the lender , and if, in the

lender 's opinion, the value of the land is reduced, the

mortgage money shall, at the lender 's option,

immediately become due and payable to the lender on demand.

Nothing done by the lender under this

section will make the

lender a mortgagee in possession.

Subdivision

If the land is subdivided

this mortgage will charge each subdivided lot as security for payment

of all the mortgage money , and

the lender is not required to discharge this

mortgage as a charge on any of the subdivided lots unless all the

mortgage money is paid.

Even though the lender is not required to discharge any

subdivided lot from this mortgage , the lender may agree to

do so in return for payment of all or a part of the mortgage money . If

the lender discharges a subdivided lot, this mortgage will

continue to charge the subdivided lot or lots that have not been discharged.

Current and running account

If the mortgage form states that this mortgage

secures a current or running account, the lender may, on one or more

occasions, advance and readvance all or part of the principal amount and

this mortgage

will be security for payment of the principal amount as advanced

and readvanced and for all other money payable to the lender under

this mortgage ,

will not be considered to have been redeemed only because

the advances and readvances made to the borrower have been

repaid, or

the accounts of the borrower with the lender

cease to be in debit, and

remains effective security for further advances and readvances until the

borrower has received a discharge of this

mortgage .

Covenantor's promises and agreements

As the lender would not have agreed to lend the principal

amount to the borrower without the promises of the

covenantor and in consideration of the lender advancing

all or part of the principal amount to the borrower at the

request of the covenantor , the covenantor

promises

to pay all the mortgage money when due, and

to keep and perform all the borrower's promises and

agreements .

The covenantor agrees that, with or without notice, the following

shall in no way affect any of the promises of the covenantor or the

liability of the covenantor to the lender :

a discharge of the land or any part of the land

from this mortgage ;

any disregard or waiver of a default ;

the giving of extra time to the borrower to

do something that the borrower has agreed to do,

cure a default ;

any other dealing between the borrower and the

lender that concerns this mortgage or the

land .

All the covenantor 's promises shall be binding on the

covenantor until all the mortgage money is fully paid to

the lender .

The covenantor is a primary debtor to the same extent as if the

covenantor had signed this mortgage as a

borrower and is not merely a guarantor or a surety, and the

covenantor 's promises and agreements are joint and several with the

borrower's promises and agreements . This means that the

covenantor and the borrower are both liable to perform

all the borrower's promises and agreements .

If more than one person signs the mortgage form as

covenantor , the promises are both joint and several.

General

This mortgage binds the borrower and the

covenantor and their successors, executors, administrators and

assigns.

Each person who signs this mortgage as a borrower

is jointly and severally liable for all of the borrower's promises and

agreements as though each such borrower had been the only

borrower to sign.

If any part of this mortgage is not enforceable all other parts

will remain in effect and be enforceable against the borrower and any

covenantor .

Provisions relevant to the enactment of this regulation: Land Title

Act , R.S.B.C. 1996, c. 250, sections 4, 158, 227 and 232