Address: 4440 Calgary Trail North
Legal Description: Plan 762-0205 Blk 27 Lot 2
THIS AGREEMENT made this 28th day of July, A.D. 1977.
BETWEEN:
THE CITY OF EDMONTON,
a municipal corporation,
(hereinafter called the "City"),
- and -
TERRACE CORPORATION (CONSTRUCTION) LTD.,
(hereinafter called the "Developer).
WHEREAS the Developer is the registered owner of the following lands situate in the City of Edmonton, in the Province of Alberta, namely:
Lot Two (2) in Block Twenty-seven (27), containing Four and Sixty-seven Hundredths (4.67) acres more or less. Plan 762 02025 (N.E. 8 and Fraction S.E. 17R-52-24-4) Edmonton.
Excepting thereout all Mines and Minerals.
(hereinafter called "the site");
AND WHEREAS the Developer has made an application to delete from the Land Use Classification Guide the classification on the site of C-8 and zone the said site to CD-1 under the Zoning Bylaw No. 2135;
AND WHEREAS the Municipal Planning Commission at its meeting of June 2nd, 1977, approved the application to zone the site as CD-1, subject to the conditions herein contained.
AND WHEREAS the Developer intends to develop on the site an office tower and motel development.
AND WHEREAS adjoining the site is the site of the Convention Inn South development, hereinafter called "Convention Inn South".
AND WHEREAS the Municipal Planning Commission at its meeting of June 2nd, 1977, recommended approval of the application to zone the site as CD-1, subject to the conditions herein contained.
NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the City zoning the site as CD-1, and in consideration of the sum of One Dollar ($1.00) now paid by the City to the Developer, the Developer hereby covenants and agrees as follows:
1. (a) The development of the site of the tower and motel development to be situated thereupon shall be developed concurrently in accordance with the model, and with the plans dated the 26th day of July, 1977, which plans were submitted to the City Development Officer in conjunction with application ZB/77-51, the development of the entire project to be started and brought to conclusion in one stage.
(b) Without limiting the provisions of section 1(a) the office tower shall be sited in accordance with the approved site plan dated July 26th, 1977.
(c) The height of the office tower measured at its peripheral walls shall not exceed a height of ninety-three (93') feet above the lobby floor at the front entrance of the Convention Inn South.
(d) Except for exhaust vents and the elevator shaft, no mechanical structure including housing for air conditioning equipment shall be situated on the office tower roof.
(e) The elevator shaft of the office tower shall project no further than ten (10') feet above the height of the office tower.
(f) The Developer acknowledges and agrees that no development shall be commenced upon the site unless such development complies with the comprehensive plan of development submitted pursuant to the City of Edmonton Zoning Bylaw, Bylaw No. 2135.
2. (a) Upon execution of this agreement, the Developer shall provide to the City security in the form of a Performance Bond, in a form satisfactory to the City Solicitor, acting reasonably, in the amount of 25% of the estimated cost of the completion of landscaping within the development site in accordance with the requirements of the CD-1 zoning district, which security shall remain in full force and effect until the landscaping has been completed to the satisfaction of the Development Officer of the City, acting reasonably. The City may realize upon the security provided to it by the Developer pursuant to the terms of this article at any time during which the Developer fails and continues to fail to observe or perform landscaping requirements, or for the purposes of completing the construction and installation of the landscaping in accordance with this agreement and in accordance with the requirements of the CD-1 zoning district.
(b) The landscaping referred to in clause 2(a) shall include a sum of Five Thousand Dollars ($5,000.00) for landscaping on the rooftop of the office tower in order to buffer the ten foot elevator shaft projection. The developer acknowledges and agrees that the rooftop shall be landscaped so as to be attractive when viewed from the rooftop restaurant atop the Convention Inn South, and shall meet the satisfaction of the Development Officer of the City, acting reasonably.
(c) The landscaping referred to in clauses 2(a) and 2(b) shall be completed to the satisfaction of the Development Officer of the City, acting reasonably, within one (1) year after the office tower and motel development is occupied in whole or in part.
3. In the event that access is required in the future to either the North or Southbound lanes of the Calgary Trail roadway system, the City agrees that one access point will be permitted to the site from the Northbound lane and Southbound lane abutting the property, the location thereof to be to the satisfaction of the City Engineer.
4. The Developer acknowledges and agrees that pursuant to proviso No. 3 of the Regulations of the CD-1 Comprehensive Development District, section 35, City of Edmonton Zoning Bylaw 2135, that unless a Development Permit is issued within one (1) year from the time of third reading of Bylaw No. 5117, then the CD-1 Comprehensive Development District zoning shall lapse and the site shall be zoned C-8 section 27-A.
5. The Developer agrees that the conditions, terms and provisos of this agreement shall be deemed to be covenants running with the site, and shall be enforceable by the City in the same manner and to the same extent as any other restrictive covenant, filed by way of caveat, and the City may file a caveat to protect its interest herein. The City agrees to absolutely postpone its caveat in favour of a mortgage or mortgages registered at the North Alberta Land Titles Office for the purposes of financing construction or development on or within the said site. The City further agrees to discharge this caveat, upon demand, against the said land when all conditions contained herein have been satisfied.
IN WITNESS WHEREOF the parties hereto have hereunto set their hand and seals at the City of Edmonton, in the Province of Alberta, the day and year first above written.
