Adjournment

Adjournment

Bylaw No. 2002 — Schedule B

Partnering Tax Exemption Certificate

In accordance with the City of Langford “City of Langford Partnering Tax Exemption Bylaw No. 2002” (the “Bylaw”), and in accordance with a Tax Exemption Agreement dated for reference the ____ day of_________, 2021 (the “Agreement”) entered into between the City of Langford (the “City”) and Langford Climbing Inc. (the “Owner”), the

(a) Lessee of Parcel 1 (being a consolidation of Lots C and E, see FB437476), Sections 80, 81, 86, and 87, Esquimalt District, Plan VIP78546, and PID 028-682-718; and

(b) Registered owner of the building with a folio of 01-327-06500077

(collectively the “Property”):

This certificate certifies that the Property is subject to a partnering tax exemption equal to 100% of the amount of the municipal property tax imposed pursuant to section 197(1)(a) of the Community Charter.

The Tax Exemption is provided under the following conditions:

1. The Owner does not breach any term, condition or provision of, and performs all obligations set out in, the Agreement and the Bylaw;
2. The Owner has not sold all or any portion of its equitable or legal fee simple interest in the Property;
3. The Agreement is not otherwise terminated.

If any of these conditions are not met then the Council of the City of Langford may cancel this Partnering Tax Exemption Certificate. If such cancellation occurs, the Owner of the Property shall remit to the City an amount equal to the total taxes exempted for the year the cancellation occurs.