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BROADWAY RESIDENCES CONDOMINIUM TORONTO STANDARD CONDOMINIUM PLAN

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BROADWAY RESIDENCES CONDOMINIUM TORONTO STANDARD CONDOMINIUM PLAN Powered By Docstoc
					                                                           BROADWAY RESIDENCES CONDOMINIUM
                                                   TORONTO STANDARD CONDOMINIUM PLAN NO. 1587
                                                                          153 BEECROFT ROAD
                                                                           TORONTO, ONTARIO

                                            TITLE MEMORANDUM

RE:     BROADWAY RESIDENCES INC. (the “Vendor”) sale of condominium units at 153 Beecroft Road,
        Toronto, Toronto Standard Condominium Plan No. 1587 (the “Property”)

With respect to the above-noted transaction, we wish to advise as follows:

Pursuant to the provisions of Paragraph 6 and 22 of the Agreement of Purchase and Sale, the Purchaser agreed to
accept title subject to those matters set out in Paragraphs 1 to 29 below; the Vendor is not required to obtain
Releases of any of the following Agreements, easements or restrictions; and the Purchaser shall satisfy himself
concerning compliance therewith.

1.      Instrument No. E526884 registered April 17, 2002 is a servicing easement in favour of Rogers Cable Inc.

2.      Instrument No. AT372670 registered December 24, 2003 is an easement in favour of OPG-700 University
        Inc., as owner of Parts 2, 3, 4, 5 and 6 on Plan 66R-16379 over Part 3 on Plan 66R-20851 for the purposes
        set out therein.

3.      Instrument No. AT379899 registered January 8, 2004 is an easement in favour of Toronto Hydro-Electric
        System Limited on Parts 5 and 6 on Plan 66R-20851.

4.      Instrument No. AT413311 registered February 20, 2004 is the Declaration creating Toronto Standard
        Condominium Plan No. 1587, which reserves in favour of Parts 1, 8 and 9 on Plan 66R-20851 (“Broadway
        2”) certain easements and rights-of-way and is together with certain easements and rights-of-way over
        Broadway 2, as more particularly set out therein.

5.      Instrument No’s E454106, E454107, E454108 and E454109 are easements over Parts 5, 6 and 7 on Plan
        66R-19299 in favour of the Property for the purposes set out therein.

6.      Instrument No. AT372651 registered December 24, 2003 is an easement over Part 22 on Plan 66R-20757
        in favour of the Property for the purposes set out therein.

7.      Instrument No. AT223935 registered July 18, 2003 is a sanitary sewer easement over Part 1 on Plan 66R-
        19480 in favour of the Property for the purposes set out therein.

8.      Instrument No. TB718784 registered October 11, 1990 is a Development Agreement between Ontario
        Hydro and the City of North York.

9.      Instrument No. E322536 registered April 20, 2000 is Notice of a Letter dated February 3, 2000 from the
        Director of Planning and Administration for the City of North York to Goodman, Phillips and Vineberg
        concerning a claim for Section 14 credits pursuant to the Development Charges Act.

10.     Instrument No. E434247 registered July 18, 2001 is Notice of an Agreement between Menkes 5000 Yonge
        Developments Inc. (“Menkes 5000”), as prior owner of the Property and the City of Toronto.

11.     Instrument No. E434248 registered July 18, 2001 is Notice of an Agreement between Menkes 5000 and the
        City of Toronto.

12.     Instrument No. E454110 registered September 10, 2001 is Notice of the 5000 Yonge Project Reciprocal
        Agreement (the “5000 Yonge Reciprocal Agreement”) among Broadway Residences Inc., Menkes 5000,
        Menkes 5000 Yonge Office Inc. and Menkes BCN Inc. with respect to the 5000 Yonge Project (the
        “Project”). Prior to the final closing of units in the Property, this Agreement will be assumed by Toronto
        Standard Condominium Corporation No. 1587 (the “Corporation”) and amended to reflect the “as built”
        conditions of the Project of which the Property forms a part, which Assumption and Amending Agreement
        will be registered on title to the Property and the Project.

13.     Instrument No. E483666 registered December 3, 2001 is Notice of a Site Plan Agreement between
        Broadway Residences Inc. and the City of Toronto.

14.     Instrument No. E483667 registered December 3, 2001 is Notice of a Site Plan Agreement between
        Broadway Residences Inc. and the City of Toronto.

15.     Instrument No. AT223964 registered July 18, 2003 is an Application to Register Notice of a Consent
        Agreement dated November 4, 2002 among the various owners of the Project, the City of Toronto and
        OPG-700 University Inc. concerning a sanitary sewer easement in favour of the Property which was
        registered as Instrument No. AT223935.

16.     Instrument No. AT393450 registered January 26, 2004 is a Plan Correction of the Examiner of Surveys to
        correct Plan 66R-20757.
17.      Prior to the final closing of units in the Property, Broadway Residences Inc. will be registering the Beecroft
         Buildings Reciprocal Agreement with respect to the Property and Broadway 2.

18.      Prior to the final closings of units in the Property, the Bylaws of the Corporation will be registered on title.

19.      Instrument No. E497510 registered January 17, 2002 is a Charge/Mortgage in favour of the Bank of Nova
         Scotia. The provisions of Paragraph 7 of the Agreement will apply to the partial discharge of this
         Charge/Mortgage.

20.      Instrument No. E497511 registered January 17, 2002 is a Charge/Mortgage relating to Broadway 2 in
         favour of The Bank of Nova Scotia. It is anticipated that this Charge/Mortgage will be discharged from the
         whole of the Property prior to Closing, failing which the provisions of Page 7 of the Agreement will apply.

21.      Instrument No. E550338 registered June 11, 2002 is an Assumption of the 5000 Yonge Reciprocal
         Agreement by The Bank of Nova Scotia with respect to Charge/Mortgage E497511 for Broadway 2. The
         partial discharge of E497511 set out in Paragraph 20 above will include reference to deletion of E550338.

22.      Instrument No. E550339 registered June 11, 2002 is an Assumption of the 5000 Yonge Reciprocal
         Agreement by The Bank of Nova Scotia with respect to Charge/Mortgage E497510 for the Property. The
         partial discharge of Charge/Mortgage E497510 set out in Paragraph 19 above will include reference to
         deletion of E550339.

23.      Instrument No. E552130 registered June 14, 2002 is a Charge/Mortgage in favour of London Guarantee
         Insurance Company. By Amending Letters Patent dated December 19, 2002 and effective January 1, 2003
         registered on January 20, 2003 as Instrument No. AT83155, London Guarantee Insurance Company
         changed its name to St. Paul Guarantee Insurance Company. The provisions of Paragraph 7 of the
         Agreement will apply to partial discharges of this Charge/Mortgage.

24.      Instrument No. E552131 registered June 14, 2002 is a Charge/Mortgage in favour of London Guarantee
         Insurance Company relating to Broadway 2. By Amending Letter Patent dated December 19, 2002 and
         effective January 1, 2003 registered on January 20, 2003 as Instrument No. AT83155, London Guarantee
         Insurance Company changed its name to St. Paul Guarantee Insurance Company. It is anticipated that this
         Charge/Mortgage will be discharged from the whole of the Property prior to Closing, failing which the
         provisions of Paragraph 7 of the Agreement will apply.

25.      Instrument No. E596659 registered September 9, 2002 is an Assumption of the 5000 Yonge Reciprocal
         Agreement by London Guarantee Insurance Company with respect to Charge/Mortgage E552130. The
         partial discharge of E552130 set out in Paragraph 23 above will include reference to deletion of E596659.

26.      Instrument No. E596660 registered September 9, 2002 is an Assumption of the 5000 Yonge Reciprocal
         Agreement by London Guarantee Insurance Company with respect to Charge/Mortgage E552131 for
         Broadway 2. The partial discharge of E552131 set out in Paragraph 24 above will include reference to
         deletion of E596660.

27.      Instrument No. E599230 registered September 12, 2002 is a priority agreement between The Bank of Nova
         Scotia and London Guarantee Insurance Company with respect to Instrument No’s E497510 and E552130.
         The partial discharge of E552130 and E497510 will include reference to deletion of E599230.

28.      Instrument No. E599231 registered September 12, 2002 is a priority agreement between The Bank of Nova
         Scotia and London Guarantee Insurance Company with respect to Instrument No’s E497511 and E552131.
         The partial discharge of E497511 and E552131 will include reference to deletion of E599231.

29.      Instrument No. AT411395 registered February 18, 2004 is a Notice of Security Interest in favour of 81
         Capital Inc. with respect to the leased heating and air-conditioning equipment.

30.      On Closing, we will provide you with a Statutory Declaration of an authorized signing officer of the
         Vendor concerning Section 116 of the Income Tax Act (Canada).

31.      We presume that you will be making your usual searches with respect to realty taxes, executions, zoning,
         building regulations and work orders, subject to any arrangements which you have made directly with
         TitlePlus and its Lawyerdonedeal Program.

We trust that this Title Memorandum will resolve any requisitions on title which you may have submitted or will be
submitting in connection with this transaction. This Title Memorandum is being provided solely to assist you with
your search of title and is not to be taken as an admission of your right to submit requisitions nor as to the validity of
any requisitions.

February 20, 2004

L:\LAWYERS\JAM\MENKES\Broadway\PHASE 1 - Broadway - A\Broadway Title Memo.doc




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