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LAND TITLE (TRANSFER FORMS) REGULATION53/90

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LAND TITLE (TRANSFER FORMS)REGULATION 53/90

B.C. Reg. 53/90

[includes B.C. Reg. 300/94 amendments (effective Oct. 1, 1994)]

Contents

1. Interpretation2. Prescribed forms3. Completion of transfer form4. Format5. Use of seal6. Abbreviations7. Prescribed mortgage terms8. Filed mortgage terms and filed charge terms9. Excluded instruments10. Other forms11. English language

SCHEDULE A – Forms FORM A – Freehold Transfer FORM B – Mortgage – Part 1 FORM C – General Instrument – Part 1 FORM D – Executions Continued FORM E – ScheduleSCHEDULE B — Prescribed Standard Mortgage Terms

[Provisions of the Land Title Act, RSBC 1996, c. 250, relevant to the enactment of this regulation:sections 185 (1), 225 and 227]

Interpretation

1. In this regulation:

"Act" means the Land Title Act;

"instructions" means everything in Schedule A other than the user guide and Forms Ato E;"transfer form" means a form of instrument prescribed under this regulation as

(a) a transfer of a freehold estate,

(b) a mortgage, or

B.C. Reg. 53/90 LAND TITLE (TRANSFER FORMS) REGULATION 53/90

of 69 Quickscribe Services Ltd.

(c) a general instrument,

and includes any schedule or other documentation attached to the transfer form;"user guide" means those parts of Schedule A entitled “User Guide”.

[am. B.C.Reg. 33/92.]

Prescribed forms

2. (1) Forms numbered A to E in Schedule A are prescribed for the purposes of the Act.

(2) A transfer form that is

(a) a transfer of a freehold estate shall be in Form A,

(b) a mortgage shall be in Form B, or

(c) a general instrument shall be in Form C.

(3) Nothing shall be attached to a transfer form except

(a) one or more additional execution pages in Form D,

(b) one or more schedules in Form E,

(c) any affidavit of execution required under Part 5 of the Act,

(d) in the case of a mortgage in Form B, a set of express mortgage termsconstituting Part 2 of the mortgage, and

(e) in the case of a general instrument in Form C, a set of express charge termsconstituting Part 2 of the general instrument.

(4) Every transfer form shall be executed and completed

(a) in compliance with the instructions, and

(b) in substantial compliance with the user guide.

(5) An attachment to a transfer form that is a schedule in Form E shall be completedin compliance with the instructions and in substantial compliance with the userguide.

(6) A transfer form may contain an identification number or customer or client filenumber so long as the number is not placed on the form in a manner that(a) obscures any part of the printed form,

(b) renders any completed part of the form illegible,

(c) prevents the land title office from using that part of the form designated forland title office use only, or

(d) may tend to mislead a person as to the contents or legal effect of the form.

[am. B.C.Reg. 33/92.]

Completion of transfer form

3. (1) Every transfer form, including attachments, and every set of standard terms filedunder section 228 or 235 of the Act shall be on durable paper 8 1/2” x 11” in size.

(2) The transfer form shall be completed

(a) by printing or typing in legible characters of 10 or 12 pitch, but not smallerthan 12 point, and

(b)



by printing or typing in black or dark ink that is compatible for electronicscanning, optical character recognition or micrographic technology of thekind used in the land title office.

(3) The transfer form shall contain a blank space not less than 1 1/2” deep and 6”wide in the top right corner of the first page for use by the land title office.

(4) The vertical lines separating the year, month and day columns in the executionsegment of a transfer form and in the payment provisions segment of Form B arenot mandatory.

(5) The name, address and professional capacity of the officer witnessing thesignature of a transferor or other party shall be typed or printed immediatelybelow the signature of the officer.

[am. B.C.Reg. 33/92.]

Format

4. (1) The space provided for the completion of any item of the transfer form may beexpanded or reduced as the circumstances require so long as(a) in the case of a transfer form in Form A, the expansion does not make the

instrument longer than one page, or(b) in the case of a transfer form in Form B or C, the expansion does not make

the instrument longer than 2 pages or result in printing part of an item onone page with the balance of the item on another page.

(2) Nothing in subsection (1) operates to limit the effect of section 2 (3).

(3) Notwithstanding subsection (1) (b), items 1 to 5 on Form B must appear either onpage one of the form or in a schedule in Form E that is attached to the form inaccordance with the instructions and user guide.

[am. B.C.Reg. 33/92.]

Use of seal

5. Where a transfer form is executed under seal, the seal shall be affixed in a waythat does not render the transfer form or any part of it illegible.

Abbreviations

6. An abbreviation of any word on a transfer form shall not be used unless

(a) the abbreviation is permitted by the instructions or user guide, or

(b) the abbreviation does not obscure the meaning, intent or legal effect of thetransfer form.

Prescribed mortgage terms

7. The standard mortgage terms set out in Schedule B are prescribed for thepurposes of section 227 of the Act and shall be referred to as the “prescribedstandard mortgage terms”.

Filed mortgage terms and filedcharge terms

8. (1) A set of standard terms filed under section 228 or 235 of the Act shall



(a) in the case of a set of standard mortgage terms have the following headingat the top of the first page:

STANDARD MORTGAGE TERMS

Filed By: .........................................................................,

(b) in the case of a set of standard charge terms have the following heading atthe top of the first page:

STANDARD CHARGE TERMS

Filed By: .........................................................................,

(c) have page numbers at the bottom of each page,

(d) have numbered or lettered paragraphs, and

(e) have the words “END OF SET” at the bottom of the last page immediatelyabove the page number.

(2) The headings referred to in subsection (1) (a) and (b) shall be at least 2” belowthe top of the page and the 2” space shall be used for land title office purposesonly.

(3) An application to file a set of standard mortgage terms or a set of standard chargeterms may be in any form acceptable to the registrar.

(4) A set of standard mortgage terms or standard charge terms shall be delivered forfiling in duplicate, and the duplicate copy shall be labelled “DUPLICATECOPY” on the first page.

[en. B.C. Reg. 33/92.]

Excluded instruments

9. (1) Division 6 of Part 14 of the Act does not apply to

(a) an instrument that, without the signature of the owner of an interest,operates to transfer, assign, charge or otherwise affect the interest,

(b) an instrument the form of which is prescribed under B.C. Reg. 334/79 oranother enactment, or

(c) an instrument creating a floating charge that does not also create amortgage of specific land.

(2) Nothing in subsection (1) operates to disapply Division 6 of Part 14 of the Act toinstruments that create or constitute(a) an assignment of rents that is not part of a mortgage,

(b) an easement,

(c) an equitable charge other than a floating charge,

(d) an agreement to extend a registered mortgage or charge over other land,

(e) an agreement to modify a charge,

(f) a lease, option to lease or agreement to renew a lease,

(g) an option to purchase,

(h) a right of first refusal,

(i) a right to purchase,

(j) a statutory right of way,



(k) a positive or negative covenant, other than a statutory building scheme inForm 35 of B.C. Reg. 334/79,

(l) an assignment of a registered charge other than an assignment in Form 27or 28 of B.C. Reg. 334/79, or

(m) a release or discharge of a charge or interest.

[am. B.C.Reg. 33/92.]

Other forms

10. (1) Forms 24, 27 and 28 of B.C. Reg. 334/79 are modified to the extent necessary toaccommodate the execution and officer certification by striking out “SIGNED INTHE PRESENCE OF” and substituting “OFFICER CERTIFICATION”, and byadding the following immediately below the signatures of the executing partiesand the witness:

“OFFICER CERTIFICATION: Your signature constitutes a representation thatyou are a solicitor, notary public or other person authorized by the Evidence Act,R.S.B.C. 1996, c. 124, to take affidavits for use in British Columbia and certifiesthe matters set out in Part 5 of the Land Title Act as they pertain to the executionof this instrument.”

(2) Any other instrument that is required to be witnessed under Part 5 of the Act andthat is not required to be in a form prescribed under the Act shall, where thewitness is an officer, contain the officer certification statement set out insubsection (1) and the witness shall sign the instrument under a column headed“Officer Signature(s)” in the same manner as required in Item 7 of Form A.

(3) Where an instrument to which subsection (2) applies is not witnessed by anofficer, the words “SEE AFFIDAVIT OF EXECUTION” shall be entered in theOfficer Signature column in the same manner as required by the instructions anduser guide for Form A and an affidavit of execution shall be attached to theinstrument.

[am. B.C.Reg. 33/92.]

English language

11. Every instrument to be filed, lodged, registered or deposited under the Act shall,unless the nature of the instrument renders it impractical, be in the Englishlanguage.

Note: To view each form in this Schedule, please click on the appropriate title listedin the Table of Contents.



SCHEDULE A – FORMS

LAND TITLE ACT

FORM A

(Section 185 (1))

Province ofBritish Columbia

FREEHOLD TRANSFER (This area for Land Title Office use) PAGE 1 of ... pages

........................................................................................................................................

1. Application: (Name, address, phone number and signature of applicant, applicant's solicitor or agent)

........................................................................................................................................

2. (a) Parcel Identifier and Legal Description of Land: *

(PID) (LEGAL DESCRIPTION)

(b) Market Value: $

........................................................................................................................................

3. Consideration:

........................................................................................................................................

4. Transferor(s): *

........................................................................................................................................

5. Freehold Estate Transferred: *

........................................................................................................................................

6. Transferee(s): (Including postal address(es) and postal code(s)) *

........................................................................................................................................

7. Execution(s): ** The transferor(s) accept(s) the above consideration and understand(s)that this instrument operates to transfer the freehold estate in the land described aboveto the transferee(s).

Execution Date

Officer Signature(s) Y M D Transferor(s) Signature(s)

Officer Certification:Your signature constitutes a representation that you are a solicitor, notary public or other person authorized by



the Evidence Act, R.S.B.C. 1996, c. 124, to take affidavits for use in British Columbia and certifies the mattersset out in Part 5 of the Land Title Act as they pertain to the execution of this instrument.

* If space insufficient, enter "SEE SCHEDULE" and attach schedule in Form E.** If space insufficient,continue executions on additional page(s) in Form D.

FREEHOLD TRANSFER FORM

Completion Instructions

[am. B.C.Regs. 165/90; 33/92; 300/94, App. 2.]

GENERAL

(1) Upon submission of a freehold transfer in Form A to the land title office, a separateapplication is not necessary unless the transfer also contains an exception, reservationor condition in favour of or for the benefit of the transferor that is an interest in landcapable of registration under the Land Title Act, in which case the transferor shallapply to register that interest in Form 17 of B.C. Reg. 334/79.

(2) Please ensure that every item of Form A is completed in accordance with theinstructions and the user guide.

(3) The transfer document includes

(a) the freehold transfer in Form A,

(b) any additional pages to accommodate transferor and officer signatures in FormD,

(c) all pages attached to the transfer as a schedule in Form E, and

(d) an affidavit of execution, if any,

and the transfer document shall be arranged in that order.

(4) Enter the total number of pages that comprise the freehold transfer inclusive of thetransfer form, in the space provided.

(5) Number each page after the first page of the transfer document consecutively. At theend of the transfer document, type or print "END OF DOCUMENT".

SPECIFIC

ITEM 1 – Application

Instruction



(1) Enter the name, address (including postal code) and phone number of the applicant orapplicant's solicitor or agent. This must be followed by the signature of that person.

User Guide

(1) Under the Land Title Act, the "applicant" is the person who is entitled to be theregistered owner of the estate transferred. This item constitutes the application toregister the estate transferred and must be completed by the applicant or the solicitoror agent of the applicant either before or after execution of the instrument. Anyrefusal notice will be sent to the person named in the application at the addressspecified.

(2) If the applicant or the applicant's solicitor or agent is an individual, his or her name,address (with postal code) and phone number, followed by his or her signature, mustbe entered.

(3) If the applicant or the applicant's solicitor or agent is not an individual, the name,address (with postal code), phone number and signature of an individual who isauthorized to do all acts necessary to effect registration of the freehold transfer mustbe entered.

ITEM 2 (a) – Parcel Identifier and Legal Description of Land

Instruction

(1) Enter the 9 digit parcel identifier number (PID) of the parcel to be transferred in thespace provided in Item 2 (a), followed by the legal description of the land matchingthe PID number. The PID number is not required if not yet assigned.

(2) Sections 158 (1) and 178 (2) of the Land Title Act allow the registrar to limit thenumber of parcels on a freehold transfer to one parcel. Except in exceptionalcircumstances, a freehold transfer shall not include more than one parcel of land. Ifcircumstances require more than one parcel, dispensation should be sought from theregistrar in advance.

User Guide

(1) The legal description consists of everything shown in the "Description of Land"segment of a computer title printed below the PID number.

(2) Preambles such as "All and singular that certain parcel..." in the legal description arenot required. Similarly, reference to a strata lot owner's share in the common propertyis not required in the legal description. Preambles such as "That part of Lot 4....shown on... " may be used where required.

(3) State Lot and Plan numbers in figures only. In addition, the following abbreviationsare acceptable:

N = North W = West

S = South E = East

Rge = Range Tp = Township

Bl = Block Dist = District

Gp = Group Sec = Section



DL = District Lot

LD = Legal Subdivision

W6M = West of the Sixth Meridian

Frac = Fractional

THSL = Town of Hastings Suburban Lands

KDYD = Kamloops Division, Yale District

NWD = New Westminster District

ODYD = Osoyoos Division, Yale District

QCD = Queen Charlotte District

SDYD = Similkameen Division, Yale District

TID = Texada Island District

YDYD = Yale Division, Yale District.

(4) It is not necessary to include references to a water, assessment or improvementdistrict, or legal notations such as "hereunto annexed is Easement No. ...".

(5) The legal description with parcel identifier number must be recorded entirely withinItem 2 (a) and must not continue onto a schedule.

(6) If the space is not sufficient for the complete parcel identifier number and legaldescription, set out the complete parcel identifier number and legal description in aschedule and enter "SEE SCHEDULE" in Item 2 (a).

EXAMPLE:


(PID) (LEGAL DESCRIPTION)SEE SCHEDULE

(7) If a PID number has not been assigned to the parcel, enter "NO PID NUMBER"followed by the legal description.

(8) Please note that land title office mark up of the parcel being transferred is done byPID number only.

(9) Please ensure that the legal description is entered opposite the PID number of theparcel it describes.

EXAMPLE:


(PID)NO PID NUMBER

(LEGAL DESCRIPTION)Lot 3, Sec 5, Esquimalt Dist, Plan 4532



(10) If less than the entire interest in the land is being transferred, the fractional interestshall be noted with the legal description.

EXAMPLE:


(PID)079 345 232

(LEGAL DESCRIPTION)An undivided 1/2 interest in:Lot 1, Sec 44, Nanaimo Dist, Plan 3727

(11) The fraction must, in all cases, be a fraction of the whole interest being transferred asfollows:

(a) if the owner owns an undivided 1/2 interest, and all his interest is transferred,enter "1/2", as in the above example;

(b) if the owner owns an undivided 1/2 interest and is only transferring 1/2 of thatinterest, enter "1/4";

(c) if an owner, together with 3 others, owns an undivided 1/2 interest and thatowner is transferring 1/2 of his interest, enter "1/16".

(12) To determine the fraction being transferred, the simple test is: What fraction of thewhole is being transferred?

(13) Any qualifications or exceptions under section 186 (2) of the Land Title Act may beset out in this Item below the legal description.

EXAMPLE:


(PID)123 456 789

(LEGAL DESCRIPTION)Lot 1, Sec 4, Rge 4 E, Plan 8690

The words contained in covenants 2 and 3 of column 1 of Schedule 2 ofthe Land Transfer Form Act are excepted.

(14) Do not use decimal fractions. A 1/3 interest must not be expressed as 33.33% or .333.

(15) Any registered encumbrance to which the transfer will be subject may be set outbelow the legal description.

EXAMPLE:




(PID)123 456 789

(LEGAL DESCRIPTION)Lot 1, Sec 4, Rge 4 E, Plan 8690

Subject to: Mortgage No. 88605 and SRW No. 778046L

(16) The land title office will not examine "SUBJECT TO" provisions or verify themagainst the state of the title.

ITEM 2 (b) – Market Value

Instruction

(1) Enter the market value of the property expressed in figures.

User Guide

(1) The market value must be stated whether or not it is the same amount as theconsideration.

ITEM 3 – Consideration

Instruction

(1) Enter the consideration expressed in figures or by description.

User Guide

(1) If the consideration is non−monetary, enter a description of the consideration. Theexpression "...and other good and valuable consideration" is not considered to be anaccurate description.

EXAMPLE:

3. Consideration: $1 and natural love and affection.

EXAMPLE:

3. Consideration: 60 troy ounces of gold.

(2) If there is no valuable consideration expressed in this Item, a transfer in Form A is notregistrable.

ITEM 4 – Transferor(s)

Instruction

(1) In the case of an individual, enter the full name of the transferor.

(2)



In the case of a corporation, enter its name and its B.C. incorporation or registrationnumber, if any.

(3) It is not necessary to set out addresses or occupations in this Item.

User Guide

(1) If the transferor is an individual, his or her name should be set out in full as it appearson the title.

(2) Preference is that transferor names be printed or typed in capitals and underlined asshown in the examples.

EXAMPLE:

4. Transferor(s): *

JOHN PETER SMITH and MARY ELLEN SMITH

(3) In the case of a corporation that is a B.C. company or that is registeredextraprovincially or continued in B.C., enter the B.C. registration number.

EXAMPLE:

4. Transferor(s): *

ABC LTD., (Inc. No. 12556), DEF INC., (Reg. No. A72645) andIDF CORP., (Reg. No. 654321)

(4) If there is insufficient space to enter the names of all the transferors, enter "SEESCHEDULE" and set out the names of all the transferors in a schedule. Do not set outsome names in Item 4 and some in a schedule.

EXAMPLE:

4. Transferor(s): *

SEE SCHEDULE

(5) The name of the governing jurisdiction of a corporate transferor may be entered inthis Item.

ITEM 5 – Freehold Estate Transferred

Instruction

(1) Enter appropriate words to create the type of freehold estate to be transferred.

User Guide



(1) Section 186 (4) to (8) of the Land Title Act contemplates 4 categories of freeholdestate, namely:

(a) fee simple estate;

(b) life estate;

(c) determinable fee simple;

(d) fee simple on condition.

(2) If it is intended to transfer an estate in fee simple, enter the words "Fee Simple" tocomplete Item 5. Section 186 (4) of the Land Title Act operates to transfer the estateof the transferor without any words of transfer or limitation.

(3) In the case of a life estate, determinable fee simple and fee simple on condition, enterthe appropriate words in Item 5.

EXAMPLE:


Fee Simple

EXAMPLE:


For the life of the transferee.

EXAMPLE:


For as long as the Church of St. Andrews shall stand.

EXAMPLE:


On condition that the land be used as a public park.

(4)



Item 5 can also be used to qualify the nature of the freehold passing by entering anexception or reservation from the grant.

EXAMPLE:


Fee Simple, excepting and reserving to the transferorall minerals and precious metals.

(5) If there is insufficient space to enter the entire exception or reservation, enter "FOREXCEPTIONS AND RESERVATIONS SEE SCHEDULE" and set out the exceptionand reservation in a schedule.

(6) Rights or interests of the transferor in this Item must be capable of registration as acharge and the transferor must concurrently apply for registration under section 181of the Act in Form 17 of B.C. Reg. 334/79.

(7) If at the time the transfer is executed, it is intended to register the title subject to acertificate of pending litigation, the appropriate entry may be made in this Item or inItem 2. If that decision is made after execution, file a separate election as requiredunder section 216 (2) (b) of the Land Title Act.

ITEM 6 – Transferee(s)

Instruction

(1) In the case of an individual, enter the full name and occupation of each transferee(and, if applicable, information respecting joint tenancy). A postal address (withpostal code) must also be entered.

(2) In the case of a corporation, enter its name and its B.C. incorporation orextraprovincial registration number, if any. If it is not incorporated or registered inB.C., enter a description of its governing jurisdiction. In either case, a postal addressfor the transferee must be entered in this Item.

(3) In the case of a transferee which has branch offices, a branch office address may beincluded as part of the description of the transferee, but a postal address must also begiven.

User Guide

(1) In all cases the postal address must include a postal code. It is not sufficient to stateonly the name of the city, town or village.

EXAMPLE:

6. Transferee(s): (Including occupation(s), postal address(es) and postal code(s)) *

JOHN PAUL SMITH, Merchant, and MARY LEE SMITH,Manager, as JOINT TENANTS, both of 925 Eden Street,



Victoria, B.C. V9A 6P4


EXAMPLE:


JACK MAX JONES, Dentist, of 7749 Blanshard Street,Victoria, B.C. V8L 3R9, as to an undivided 1/4 interest, andABC CO. LTD., (Inc. No. 2378), having an office at 778Burrard Street, Vancouver, B.C. T4X 3Z8, as to an undivided3/4 interest.

EXAMPLE:


ABC CO. LTD., (Inc. No. 123456), DEF INC., (Reg. No.A654321), and GHI CORP., (Reg. No. 759367), all of 789Seymour Street, Burnaby, B.C. 3P8 X1A

(3) Where transferees are taking unequal fractional interests, this information must beshown immediately after the transferees' names. This requirement does not applywhere transferees are taking either as joint tenants or tenants in common in equalshares. Where transferees take in unequal shares, their respective interests must beshown as fractions of the interest being transferred and not as fractions of the wholeland. For example, if Item 2 (a) refers to an "undivided 1/2 interest" and it is intendedto apportion that interest among 3 transferees in unequal shares, the fractional sharesshown in this Item must total to 1.

(4) For the purposes of paragraph (3), assuming that of the undivided 1/2 interest beingtransferred, one transferee is to take 1/2 and the others are to take 1/4 each, Item 6would be completed as shown in the example.

EXAMPLE:


JOHN JONES, Taxi Driver, of 1234 Yew Street, Vancouver,B.C. V9J 3P6 as to an undivided 1/2 interest, BILL JONES,Manager, of 5432 Elm Street, Vancouver, B.C. V8L 3R9 as toan undivided 1/4 interest, and SARA JONES, Teacher, of 999Maple Street, Vancouver, B.C. V4X 3Z8 as to an undivided 1/4interest.



(5) Do not use decimal fractions. A 1/3 interest must not be expressed as 33.33% or .333.

(6) Preference is for transferee names to be printed or typed in capitals and underlined asshown in the above examples.

(7) If there is insufficient space to enter names, occupations, addresses and postal codesof all of the transferees, enter "SEE SCHEDULE" and set out all the names,occupations, addresses and postal codes in a schedule.

EXAMPLE:


SEE SCHEDULE

(8) If the corporation is neither incorporated nor registered in British Columbia, the nameof the governing jurisdiction of a corporate transferee must be shown in this Item.

ITEM 7 – Execution(s)

Instruction

(1) Item 7 is to be used for execution of the freehold transfer by the transferor and forofficer certification.

(2) If the space provided is not sufficient for execution by all transferors, then anadditional page for execution may be added without reference to the registrar. Theadditional page must be in Form D. Where a transferor's signature has been certifiedby an officer, the certification must appear on the same page as the execution.

(3) The date of execution, given in year, month and day, must be indicated in the spaceprovided in Item 7. Years shall be entered using the last 2 digits (e.g. "89" for 1989).Months should be designated by number (e.g. "2" for February).

User Guide

INDIVIDUAL TRANSFEROR

(1) For natural persons, under the "Transferor(s) Signature(s)" column, the transferorname must be typed or printed immediately below the signature of the transferor.

(2) Under the "Officer Signature(s)" column, the name, address and professional capacity(e.g. solicitor, notary or commissioner) must be typed or printed immediately belowthe signature of the certifying officer.

EXAMPLE:

7. Execution(s): **



Execution Date

Officer Signature(s)

"Ian Jack Smith"Ian Jack Smith

100 Burrard StreetVancouver, B.C.

V6C 1A1Solicitor

Y

89

M

3

D

13

Transferor(s) Signature(s)

"John Peter Doe"John Peter Doe

(3) Please note that the definition of an officer is limited to a person before whom anaffidavit may be sworn under the Evidence Act, R.S.B.C. 1996, c. 124, sections 60, 63and 64.

(4) The officer signature must appear directly opposite the transferor signature certifiedby the officer. If one officer is certifying more than one transferor signature, add "asto all signatures" or "as to the signatures of . ." immediately below the officersignature.

EXAMPLE:

7. Execution(s): **

Execution Date


"William Jack Johns"William Jack Johns101 Douglas Street

Victoria, B.C.V8A 1A2

Notary Public

(as to all signatures)

Y

89

M

4

D

3


"John Peter Allan"John Peter Allan

"Mary Lynn Glen"Mary Lynn Glen

CORPORATE TRANSFEROR

(1) In the case of a transfer executed by a corporation, use the format shown in thefollowing example and ensure that the name of the authorized signatory is typed orprinted immediately below the signature. Please note that the affixation of a corporateseal is no longer required for Land Title Act purposes. The provisions of subsections(2), (3) and (4) under the heading INDIVIDUAL TRANSFEROR also apply to thisform of execution.

EXAMPLE:



7. Execution(s): **

Execution Date


"Jim Joe Brown"Jim Joe Brown

2500 West Georgia StreetVancouver, B.C.

V7C 2P4Notary Public

Y

89

M

3

D

26


ABC Limited by itsauthorized signatory

"John Lee Doe"John Lee Doe

(2) If a company seal is affixed, it must not obliterate or obscure any signature orinformation entered in this Item. In the case of a corporate attorney, it is the seal ofthe attorney that is to be affixed rather than that of the transferor.

EXECUTION BY INDIVIDUAL ATTORNEY

(1) In the case of a transfer executed by an attorney, use the appropriate format shown inthe following example. If a power of attorney is already filed in the land title office,enter the filing number immediately below the signature. The provisions ofsubsections (2), (3) and (4) under the heading INDIVIDUAL TRANSFEROR alsoapply to this form of execution.

EXAMPLE:

7. Execution(s): **

Execution Date


"Sue Mary Love"Sue Mary Love

2727 − 1499 4th AvenuePrince George, B.C.

V2C 4Y9Solicitor

Y

89

M

3

D

13


JOHN LEE DOEby his Attorney

JOHN JOE SMITH

"John Joe Smith"D.F. 667801

EXECUTION BY CORPORATE ATTORNEY

(1) In the case of a transfer executed by a corporate attorney, it must be clear that thesignatory is an authorized signatory of the corporate attorney and that the corporateattorney is acting as the attorney for the transferor. The provisions of subsections (2),(3) and (4) under the heading INDIVIDUAL TRANSFEROR also apply to this formof execution.

EXAMPLE:



7. Execution(s): **

Execution Date


"Jane Sue Brown"Jane Sue Brown

1700 − 1250 2nd AvenueKamloops, B.C.

V9C 9Y5Solicitor

Y

89

M

3

D

13



ABC LIMITED by itsauthorized signatory

"John Joe Smith"John Joe Smith

LACK OF CERTIFICATION

(1) If the transferor signature cannot be certified by an officer, enter "SEE AFFIDAVITOF EXECUTION" and attach an affidavit that complies with Part 5 of the Land TitleAct. Note that the affidavit will be part of Form A and must have a page number.

(2) The affidavit must state the reason why officer certification cannot be obtained. Thereason must be sufficient for the registrar to accept the affidavit in lieu of the officercertification. In those cases where the affidavit evidence of execution is submitted,the registrar is not likely to exercise his discretion unless officer certification issimply impossible to obtain under the circumstances or the transfer was executedoutside British Columbia.

(3) In those cases where the freehold transfer document is executed outside BritishColumbia, the registrar will accept that it is difficult to obtain an officer's certificationin all cases and will accept the affidavit of execution in lieu of an officer certification.

EXAMPLE:

7. Execution(s): **

Execution Date


SEE AFFIDAVIT OFEXECUTION

Y

89

M

3

D

13


"John Charles Doe"John Charles Doe



LAND TITLE ACT

FORM B

(Section 225)


MORTGAGE – PART 1 (This area for Land Title Office use) PAGE 1 of ... pages

........................................................................................................................................


........................................................................................................................................

2. Parcel Identifier(s) and Legal Description(s) of the Mortgaged Land: *


........................................................................................................................................

3. Borrower(s) [Mortgagor(s)]: (including postal address(es) and postal code(s)) *

........................................................................................................................................

4. Lender(s) [Mortgagee(s)]: (including postal address(es) and postal code(s)) *

........................................................................................................................................

5. Payment Provisions: **

(a) Principal Amount: $

(b) Interest Rate: (c) InterestAdjustmentDate:

Y M D

(d) Interest CalculationPeriod:

(e) Payment Dates: (f) First PaymentDate:

(g) Amount of eachperiodic payment:

(h) Interest Act(Canada)Statement: Theequivalent rate ofinterest calculated halfyearly not in advance is % per annum.

(i) Last PaymentDate:

(j) Assignment of Rentswhich the applicantwants registeredYES NO If YES, page andparagraph number:

(k) Place of payment: (l) Balance DueDate:

* If space insufficient, enter "SEE SCHEDULE" and attach schedule in Form E.



** If space in any box insufficient, enter "SEE SCHEDULE" and attach schedule in FormE.

MORTGAGE – PART 1 PAGE 2

........................................................................................................................................

6. Mortgage contains floating charge on land? YES NO

........................................................................................................................................

7. Mortgage secures a current or running account? YES NO

........................................................................................................................................

8. Interest Mortgaged:

Freehold

Other (specify) *

........................................................................................................................................

9. Mortgage Terms:Part 2 of this mortgage consists of (select one only):

(a) Prescribed StandardMortgage Terms

(b) Filed StandardMortgage Terms

D.F. Number:

(c) Express MortgageTerms

(annexed to thismortgage as Part 2)

A selection of (a) or (b) includes any additional or modified terms referred to in Item10 or in a schedule annexed to this mortgage.

........................................................................................................................................

10. Additional or Modified Terms: *

........................................................................................................................................

11. Prior Encumbrances Permitted by Lender: *

........................................................................................................................................

12. Execution(s):** This mortgage charges the Borrower's interest in the land mortgaged assecurity for payment of all money due and performance of all obligations in accordancewith the mortgage terms referred to in Item 9 and the Borrower(s) and every othersignatory agree(s) to be bound by, and acknowledge(s) receipt of a true copy of, thoseterms.



Execution Date

Officer Signature(s) Y M D Borrower(s) Signature(s)

Officer Certification:Your signature constitutes a representation that you are a solicitor, notary public or otherperson authorized by the Evidence Act, R.S.B.C. 1996, c. 124, to take affidavits for use inBritish Columbia and certifies the matters set out in Part 5 of the Land Title Act as theypertain to the execution of this instrument.


** If space insufficient, continue executions on additional page(s) in Form D.

MORTGAGE FORM – PART 1


[am. B.C.Regs. 165/90; 33/92; 300/94, App. 2.]

GENERAL

(1) Upon submission of a mortgage in Form B to the land title office, a separateapplication is not necessary unless the mortgage also creates a floating charge, capableof registration under the Land Title Act, that the lender wants to register concurrentlyagainst other land. In that case the lender shall apply to register the floating charge inForm 17 of B.C. Reg. 334/79.

(2) Please ensure that every item of Form B is completed in accordance with theinstructions and the user guide.

(3) The mortgage document includes

(a) all pages of the mortgage in Form B,

(b) any additional pages to accommodate borrower and officer signatures in Form D,

(c) all pages attached to the mortgage as a schedule in Form E,

(d) all pages of the express terms, if any, attached to the mortgage as Part 2, and

(e) an affidavit of execution, if any,

and the mortgage document shall be arranged in that order.

(4) Enter in the space provided the total number of pages that comprise the mortgagedocument.



(5) Do not include the number of pages contained in a filed or prescribed set of standardmortgage terms that are to be incorporated by reference. Although incorporated byreference, they are not part of the actual mortgage form.

(6) Number each page consecutively after page 2 of the mortgage document. At the end ofthe mortgage document, type or print "END OF DOCUMENT".

SPECIFIC


Instruction

(1) Enter the name, address (including postal code) and phone number of the applicant orthe applicant's solicitor or agent. This must be followed by the signature of that person.

User Guide

(1) Under the Land Title Act, the "applicant" is the person who is entitled to be theregistered owner of the charge. This item constitutes the application to register thismortgage and must be completed by the applicant or the solicitor or agent of theapplicant either before or after execution of the instrument. Any refusal notice will besent to the person named in the application at the address specified.

(2) If the applicant or the applicant's solicitor or agent is an individual, his or her name,address (with postal code) and phone number, followed by his or her signature, must beentered.

(3) If the applicant or the applicant's solicitor or agent is not an individual, the name,address (with postal code), phone number and signature of an individual who isauthorized to do all acts necessary to effect registration of the mortgage must beentered.

ITEM 2 – Parcel Identifier(s) and Legal Description(s) of the Mortgaged Land

Instruction

(1) Enter the 9 digit parcel identifier number (PID) of each parcel to be charged in thespace provided in Item 2, followed by the legal description of the land matching thePID number. The PID number is not required if not yet assigned.

User Guide


(2) Preambles such as "All and singular that certain parcel..." in the legal description arenot required. Similarly, reference to a strata lot owner's share in the common propertyis not required in the legal description. Preambles such as "That part of Lot 4.... shownon... " may be used where required.



(3) State Lot and Plan numbers in figures only. In addition, the following abbreviations areacceptable:

N = North W = West

S = South E = East




DL = District Lot



Frac = Fractional









(4) It is not necessary to include references to water, improvement or assessment districts,or legal notations such as "hereunto annexed is Easement No. ...".

(5) The legal description(s) with parcel identifier number(s) must be recorded entirelywithin Item 2 and must not continue onto a schedule.

(6) If the space is not sufficient for the parcel identifier number(s) and legal description(s),set out the parcel identifier number(s) and legal description(s) in a schedule and enter"SEE SCHEDULE" in Item 2.

EXAMPLE:




(8) Please note that land title office mark up of the parcel being charged is done by PIDnumber only.




EXAMPLE:


(PID)000 123 456456 798 076NO PID NUMBER

(LEGAL DESCRIPTION)Lot 1, Sec 44, Victoria Dist, Plan 4444Lot 2, Bl 5, DL 42, Gp 1, NWD, Plan 4434Lot 3, Sec 5, Rge 4E, KDYD, Plan 4532

ITEM 3 – Borrower(s) [Mortgagor(s)]

Instruction

(1) In the case of an individual, enter the full name of the borrower and a postal address towhich the lender may send notices.

(2) In the case of a corporation, enter its name and its B.C. incorporation or registrationnumber, if any, and a postal address to which the lender may send notices.

(3) It is not necessary to set out occupations in this Item.

User Guide

(1) A city, town or village by itself is not a sufficient postal address. Where appropriate, itmust contain a street or route number, post office box number or general deliverydesignation as required by Canada Post. In all cases the postal address must include apostal code.

(2) If the borrower is an individual, his or her name should be set out in full as it appearson the title.

EXAMPLE:

3. Borrower(s) [Mortgagor(s)]: (Including postal address(es) and postal code(s))*

JOHN PAUL SMITH, and MARY JANE SMITH, both of 925Eden Street, Victoria, B.C. V9A 6P4


EXAMPLE:




JACK MAX JONES, of P.O. Box 7, Stewart, B.C. L2T 4H7 andABC CO. LTD., (Inc. No. 2378), 778 Burrard Street, Vancouver,B.C. T4X 3Z8

EXAMPLE:


ABC CO. LTD., (Inc. No. 123456), DEF INC., (Reg. No.A654321) and GHI INC., all of 789 Seymour Street, Burnaby,B.C. 3P8 X1A

(4) Preference is that borrower names be printed or typed in capitals and underlined asshown in the above examples.

(5) If there is insufficient space to enter the names and postal addresses of all of theborrowers, enter "SEE SCHEDULE" and set out all the names and postal addresses in aschedule. Do not enter some names and postal addresses in Item 3 and some in aschedule.

EXAMPLE:


SEE SCHEDULE

(6) If the corporation is neither incorporated nor registered in British Columbia, the nameof the governing jurisdiction of a corporate borrower must be shown in this Item.

ITEM 4 – Lender(s) [Mortgagee(s)]

Instruction

(1) In the case of an individual, enter the full name and occupation of each lender (and, ifapplicable, information respecting joint tenancy). A postal address (with postal code)must also be entered.

(2) In the case of a corporation, enter its name and its B.C. incorporation or extraprovincialregistration number, if any. If it is not incorporated or registered in B.C., enter adescription of its governing jurisdiction. In either case, a postal address for the lendermust be entered in this Item.

(3) In the case of a lender which has branch offices, a branch office address may beincluded as part of the description of the lender, but a postal address must also begiven.

User Guide



(1) In all cases, the postal address must include a postal code. It is not sufficient to stateonly the name of the city, town or village.

(2) In the case of a lender that has branch offices, a branch office address may be includedin the description of the lender, but a postal address must also be given. If the branchoffice address and postal address are the same, this should be stated. The name of thegoverning jurisdiction of a corporate lender must always be entered unless thecorporation is incorporated or registered in British Columbia.

EXAMPLE:

4. Lender(s) [Mortgagee(s)]: (including occupation(s), postal address(es) andpostal code(s)) *

FOREIGN LOAN COMPANY INC., a Hong Kong corporationhaving an office at 7000 Stanley Place, Kowloon, Hong Kongand a postal address of Postal Box 755600, Kowloon, HongKong

(3) If the lenders are taking fractional interests, the shares must be expressed as wholefractions. For example, an undivided 1/3 interest expressed as 33.3% is not permitted.

EXAMPLE:


CTM, a Canadian chartered bank, having a branch office andpostal address at 910 Douglas Street, Victoria, B.C. V9T 7J8, asto an undivided 1/4 interest and MAX ALLEN JONES, Sailor, of650 Seymour Street, Victoria, B.C. V7A 8Y9, as to an undivided3/4 interest.

(4) Preference is for lender names to be printed or typed in capitals and underlined asshown in the above examples.

(5) If there is insufficient space to enter the names, occupations and addresses of all thelenders, enter "SEE SCHEDULE" and set out all the names, occupations and addressesin a schedule.

EXAMPLE:


SEE SCHEDULE



ITEM 5 – Payment Provisions

Instruction

(1) Complete the boxes in Item 5 as follows:

(a) Principal Amount:Enter the principal amount expressed in figures only. If the principal amount isnot a sum certain, enter "SEE SCHEDULE" and set out the obligation in aschedule.

(b) Interest Rate:Enter the interest rate expressed as a percentage. Decimals or fractions areacceptable. If a definition of "Prime" or similar reference rate is included in themortgage terms, interest can be stated as "Prime +2%" or words to like effect.

(c) Interest Adjustment Date:Enter the interest adjustment date by "year, month, day" in the respectivecolumns.If there is no interest adjustment date, enter "N/A".

(d) Interest Calculation Period:Enter interest calculation period using dates if necessary (e.g. quarterly,semi−annually, May 15 and Nov. 15).If there is no interest calculation period, enter "N/A".

(e) Payment Dates:Enter the date and frequency of payments (e.g. "1st day of each month", "1st and15th day of each month" or "every second Tuesday").If there are no payment dates, enter "N/A".

(f) First Payment Date:Enter the date on which the first periodic payment is to be made.If there are no periodic payments, enter "N/A".

(g) Amount of Each Periodic Payment:Enter the amount of each periodic payment (expressed in figures only).If there are no periodic payments, enter "N/A".If the periodic payments are of accrued interest only, enter "Interest only".

(h) Interest Act (Canada) Statement:Enter the appropriate percentage in figures.If space is insufficient, enter "SEE SCHEDULE" and set out the equivalentpercentage in a schedule.If it is not necessary to make an Interest Act (Canada) Statement, enter "N/A".

(i) Last Payment Date:Enter the date on which the last periodic payment is to be made.If there are no periodic payments, enter "N/A".

(j) Assignment of Rents Statement:If the mortgage contains an assignment of rents which the applicant wishesregistered, enter "X" in the "Yes" box.If the assignment is contained in a set of filed mortgage terms, enter the filingnumber of the set and the section or paragraph number of the assignment of rentsprovision.



If the assignment is contained in a schedule, enter "SEE SCHEDULE" and thepage number on which the assignment is set out.If the mortgage does not contain an assignment of rents, or if it does and theapplicant does not want to register it, enter "X" in the "No" box.

(k) Place of Payment:Enter the address at which payment of the mortgage money is to be made.If payment is to be made at the lender's postal address shown in Item 4, enter"POSTAL ADDRESS IN ITEM 4".

(l) Balance Due Date:Enter the date on which the unpaid balance is due.If the mortgage is payable on demand, enter "ON DEMAND".

User Guide

(1) It is anticipated that the payment provisions of most mortgages can be accommodatedin Item 5. In those situations where a particular box of this Item cannot be completedconveniently in the space provided, enter "SEE SCHEDULE" in that box and set outthe provision in a schedule.

(2) Please ensure that every box in Item 5 is completed by

(a) entering the appropriate information, or

(b) entering "N/A" or "SEE SCHEDULE"

as the circumstances require.

EXAMPLE:

5. Payment Provisions:

(a) Principal Amount:

$15 000

(b) Interest Rate:

12% per annum

(c) InterestAdjustmentDate:

Y

90

M

1

D

1

(d) Interest CalculationPeriod:

Monthly

(e) Payment Dates:

1st day of each month

(f) First PaymentDate:

90 2 1


$333.67

(h) Interest Act(Canada)Statement: Theequivalent rate ofinterest calculated halfyearly not in advance is12.30403% per annum

(i) Last PaymentDate:

94 12 1

(j) Assignment of Rentswhich the applicantwants registeredYES NO If YES, page and

(k) Place of payment:

POSTAL ADDRESSIN ITEM 4

(l) Balance DueDate:

95 1 1



paragraph number:

Page 10, paragraph13.07

EXAMPLE:

5. Payment Provisions:

(a) Principal Amount:

$1 000 000

(b) Interest Rate:

Prime + 2% perannum

(c) InterestAdjustmentDate: N/A

Y M D

(d) InterestCalculation Period:

Monthly

(e) Payment Dates:

15th day of eachmonth

(f) First PaymentDate:

90 1 15


Interest only

(h) Interest Act(Canada)Statement: Theequivalent rate ofinterest calculated halfyearly not in advanceis N/A % per annum.

(i) Last PaymentDate: N/A

(j) Assignment ofRents which theapplicant wantsregisteredYES NO If YES, page andparagraph number:

Page 3, paragraph 7

(k) Place of payment:

724 Westsea DrivePort Alberni, B.C.

V9X 2T8

(l) Balance DueDate:

On Demand

(3) Where the contents of one or more boxes in Item 5 are deferred to a schedule, theyshall be set out in the schedule under the same headings and in the same order as theyappear in Item 5.

(4) If the mortgage secures a non−monetary obligation and "SEE SCHEDULE" has beenentered in box (a), the obligation may be described in the schedule under the heading"Obligation Secured" rather than the heading "Principal Amount".

ITEM 6 – Floating Charge

Instruction



(1) If the mortgage contains a floating charge on land, enter "X" in the "YES" box. If itdoes not, enter "X" in the "NO" box.

ITEM 7 – Current or Running Account

Instruction

(1) If the mortgage is made to secure a current or running account, enter "X" in the "YES"box. If it is not, enter "X" in the "NO" box.

ITEM 8 – Interest Mortgaged

Instruction

(1) Enter "X" in the box that indicates the interest of the borrower that is to be charged. Atleast one of the boxes must be marked in this manner.

User Guide

(1) If the mortgaged interest is a fee simple interest, enter "X" in the "Freehold" box. If themortgaged interest is an interest less than the fee simple, enter "X" in the "Other" boxand describe the charge and specify its registration number.

EXAMPLE:


Freehold

Other(specify)

Option to Purchase GD1000

(2) If the mortgaged interest is an interest less than the fee simple that is to be registeredconcurrently with the mortgage, enter a description of the instrument creating theinterest that is sufficient for the registrar to identify it as the interest mortgaged.

EXAMPLE:


Freehold

Other(specify)

Leasehold created by lease with registration number tobe one lower than the within instrument.

(3) If the mortgaged interest is a fee simple and one or more lesser interests, both boxesmay be selected. If there is insufficient space to describe the other specified interests,enter "SEE SCHEDULE" and describe them in a schedule.



ITEM 9 – Mortgage Terms

Instruction

(1) Part 2 of the mortgage consists of one of

(a) prescribed standard mortgage terms,

(b) filed standard mortgage terms, or

(c) express mortgage terms appended to the mortgage form.

(2) Since the list in subsection (1) is exhaustive, only one item may be selected.

(3) Where the prescribed standard mortgage terms or the filed standard mortgage terms areselected, they are considered to be Part 2 of the mortgage. Where express mortgageterms are used, these must be entitled "MORTGAGE TERMS – PART 2" and beattached to Part 1 of the mortgage immediately after any schedules to the mortgageform.

User Guide

(1) There are 3 options for completing Item 9:

(a) if the prescribed standard mortgage terms are to be incorporated, enter "X" in theappropriate box,

(b) if a set of filed standard mortgage terms is to be incorporated, enter "X" in theappropriate box and enter the filing number assigned to the set by the land titleoffice, or

(c) if the express mortgage terms are to be attached, enter "X" in the appropriate boxand annex them as Part 2.

(2) A selection of either the prescribed standard mortgage terms or the filed standardmortgage terms will automatically include any addition, deletion or modification tothose terms referred to in Item 10.

ITEM 10 – Additional or Modified Terms

Instruction

(1) Where the prescribed standard mortgage terms or filed standard mortgage terms are tobe added to, deleted or modified, the addition, deletion or modification may be enteredin Item 10 or in a schedule.

(2) If all the additional, deleted or modified mortgage terms can be accommodated in thespace provided, enter them in Item 10.

(3) If all of the additional, deleted or modified mortgage terms cannot be accommodated inthe space provided, enter "SEE SCHEDULE" and set all of them out in a schedule.

(4) Do not use Item 10 to summarize any mortgage terms or to add to, delete or modifyexpress mortgage terms.

ITEM 11 – Prior Encumbrances Permitted by Lender



Instruction

(1) If desired, enter a description of any prior encumbrances the lender will permit.

User Guide

(1) Completion of this Item is not mandatory and the registrar will not examine anyinformation contained in it or verify it against the register.

(2) If it is intended to make the mortgage subject to an interest which will be registeredafter the registration of the mortgage, do not enter a description of it in this Item.Instead, an appropriate form of consent and postponement may be included in themortgage terms.

EXAMPLE:

11. Prior Encumbrances Permitted by Lender:

(a) SRW K9473

(b) Mortgage Z47934

(c) Mortgage in the principal sum of $285 000 in favour of The Royal Bank ofCanada

(d) Certificate dated November 15, 1989 in the sum of $15 397.43 issuedpursuant to the Employment Standards Act.

(3) If, at the time the mortgage is executed, it is intended to register the mortgage subjectto a certificate of pending litigation, the appropriate entry may be made in this Item. Ifthat decision is made after execution, file a separate election as required under section216 (2) (b) of the Land Title Act.


Instruction

(1) Item 12 is to be used for execution of the mortgage document by the borrower and forofficer certification.

(2) If the space provided is not sufficient for execution by all borrowers, then an additionalpage for execution may be added without reference to the registrar. The additional pagemust be in Form D. Where a borrower's signature has been certified by an officer, thecertification must appear on the same page as the execution.

(3) The date of execution, given in year, month and day, must be indicated in the spaceprovided in Item 12. Years shall be entered using the last 2 digits (e.g. "89" for 1989).Months shall be designated by number (e.g. "2" for February).

User Guide

INDIVIDUAL BORROWER

(1)



For natural persons, under the "Borrower(s) Signature(s)" column, the borrower namemust be typed or printed immediately below the signature of the borrower.

(2) Under the "Officer Signature(s)" column, the name, address and professional capacity(e.g. solicitor, notary or commissioner) must be typed or printed immediately below thesignature of the certifying officer.

EXAMPLE:

12. Execution(s): **

Execution Date




V6C 1A1Solicitor

Y

89

M

3

D

15

Borrower(s) Signature(s)



(4) The officer signature must appear directly opposite the borrower signature certified bythe officer. If one officer is certifying more than one borrower signature, add "as to allsignatures" or "as to the signatures of ..." immediately below the officer signature.

EXAMPLE:


Execution Date




Notary Public


Y

89

M

4

D

3






CORPORATE BORROWER

(1) In the case of a mortgage executed by a corporation, use the format shown in thefollowing example and ensure that the name of the authorized signatory is typed orprinted immediately below the signature. Please note that the affixation of a corporateseal is no longer required for Land Title Act purposes. The provisions of subsections(2), (3) and (4) under the heading INDIVIDUAL BORROWER also apply to this formof execution.

EXAMPLE:


Execution Date





Y

89

M

3

D

26




(2) If a company seal is affixed, it must not obliterate or obscure any signature orinformation entered in this Item. In the case of a corporate attorney, it is the seal of theattorney that is to be affixed rather than that of the borrower.


(1) In the case of a mortgage executed by an attorney, use the appropriate format shown inthe following example. If a power of attorney is already filed in the land title office,enter the filing number immediately below the signature. The provisions of subsections(2), (3) and (4) under the heading INDIVIDUAL BORROWER also apply to this formof execution.

EXAMPLE:


Execution Date




V2C 4Y9Solicitor

Y

89

M

3

D

13



JOHN JOE SMITH





(1) In the case of a mortgage executed by a corporate attorney, it must be clear that thesignatory is an authorized signatory of the corporate attorney and that the corporateattorney is acting as the attorney for the borrower. The provisions of subsections (2),(3) and (4) under the heading INDIVIDUAL BORROWER also apply to this form ofexecution.

EXAMPLE:


Execution Date




V9C 9Y5Solicitor

Y

89

M

3

D

13






(1) If the borrower signature cannot be certified by an officer, enter "SEE AFFIDAVIT OFEXECUTION" and attach an affidavit that complies with Part 5 of the Land Title Act.Note that the affidavit is part of Form B and must have a page number.

(2) The affidavit must state the reason why officer certification cannot be obtained. Thereason must be sufficient for the registrar to accept the affidavit in lieu of the officercertification. In those cases where the affidavit evidence of execution is submitted, theregistrar is not likely to exercise his discretion unless officer certification is simplyimpossible to obtain under the circumstances or the mortgage was executed outsideBritish Columbia.

(3) In those cases where the mortgage document is executed outside British Columbia, theregistrar will accept that it is difficult to obtain an officer certification in all cases andwill accept the affidavit of execution in lieu of an officer certification.

EXAMPLE:




Execution Date



Y M D Borrower(s) Signature(s)


COVENANTOR OR GUARANTOR

(1) A covenantor or guarantor may sign the document within Item 12. The covenantor's orguarantor's name must be typed or printed below the signature. The signature of thecovenantor or guarantor need not be certified by an officer for Land Title Act purposes.

LAND TITLE ACT

FORM C

(Section 233)


GENERAL INSTRUMENT – PART 1 (This area for Land Title Office use) PAGE 1 of ...

pages

........................................................................................................................................


........................................................................................................................................



........................................................................................................................................

3. Nature of Interest: *

DESCRIPTION DOCUMENTREFERENCE(page and paragraph)

PERSON ENTITLEDTO INTEREST

........................................................................................................................................

4. Terms: Part 2 of this instrument consists of (select one only)



(a) Filed Standard Charge Terms D.F. No.

(b) Express Charge Terms Annexed as Part 2

(c) Release There is no Part 2 of this instrument

A selection of (a) includes any additional or modified terms referred to in Item 7 or in aschedule annexed to this instrument. If (c) is selected, the charge described in Item 3 isreleased or discharged as a charge on the land described in Item 2.

........................................................................................................................................

5. Transferor(s): *

........................................................................................................................................

6. Transferee(s): (including postal address(es) and postal code(s)) *

........................................................................................................................................

7. Additional or Modified Terms: *

........................................................................................................................................

8. Execution(s): This instrument creates, assigns, modifies, enlarges, discharges orgoverns the priority of the interest(s) described in Item 3 and the Transferor(s) andevery other signatory agree to be bound by this instrument, and acknowledge(s) receiptof a true copy of the filed standard charge terms, if any.

Execution Date

Officer Signature(s) Y M D Borrower(s) Signature(s)

Officer Certification:Your signature constitutes a representation that you are a solicitor, notary public orother person authorized by the Evidence Act, R.S.B.C. 1996, c. 124, to take affidavitsfor use in British Columbia and certifies the matters set out in Part 5 of the Land TitleAct as they pertain to the execution of this instrument.


[en. B.C.Reg. 33/92.]

GENERAL INSTRUMENT FORM – PART 1


[en. B.C.Reg. 33/92; am. B.C.Reg. 300/94, App. 2.]



GENERAL

(1) Upon submission of a general instrument in Form C to the land title office, a separateapplication is not necessary unless it also creates, excepts or reserves an interest inland in favour of the transferor that is capable of registration under the Land Title Act,in which case the transferor shall apply to register that interest in Form 17 of B.C.Reg. 334/79.

(2) Please ensure that every Item of Form C is completed in accordance with the instructionsand user guide.

(3) The general instrument includes

(a) the general instrument in Form C,

(b) any additional pages to accommodate party and officer signatures in Form D,

(c) all pages attached to the general instrument as a schedule in Form E,

(d) all pages of the express terms, if any, attached to the general instrument as Part2, and

(e) an affidavit of execution, if any,

and the general instrument shall be arranged in that order.

(4) Enter the total number of pages that comprise the general instrument in the spaceprovided. Number each page after page 1 of the general instrument consecutively.

(5) Do not include the number of pages contained in a set of filed standard charge termsthat are to be incorporated by reference. Although incorporated by reference, they arenot part of the actual general instrument form.

(6) At the end of the general instrument type or print "END OF DOCUMENT".

SPECIFIC


Instruction

(1) Enter the name, address (including postal code) and phone number of the applicant orthe applicant's solicitor or agent. This must be followed by the signature of thatperson.

User Guide

(1) Under the Land Title Act, the "applicant" is the person who is entitled to be theregistered owner of the charge or a release of it. This item constitutes the applicationto register the general instrument and must be completed by the applicant or thesolicitor or agent of the applicant either before or after execution of the instrument.Any refusal notice will be sent to the person named in the application at the addressspecified.

(2) If the applicant or the applicant's solicitor or agent is an individual, the name, address(with postal code) and phone number of the individual, followed by his or her



signature, must be entered.

(3) If the applicant or the applicant's solicitor or agent is not an individual, the name,address (with postal code), phone number and signature of an individual who isauthorized to do all acts necessary to effect registration of the general instrumentmust be entered.

ITEM 2 – Parcel Identifier(s) and Legal Description(s) of the Charged Land

Instruction

(1) In the space provided in Item 2, enter the 9 digit parcel identifier number (PID) ofeach parcel that is to be charged or that is encumbered with the charge beingassigned, modified, enlarged, released, partially released or postponed, followed bythe legal description of the land matching the PID number. The PID number is notrequired if not yet assigned.

User Guide


(2) Preambles such as "All and singular that certain parcel..." in the legal description arenot required. Similarly, reference to a strata lot owner's share in the common propertyis not required. Preambles such as "That part of Lot 4.... shown on... " may be usedwhere required.

(3) State Lot and Plan numbers in figures only. In addition, the following abbreviationsare acceptable:

N = North W = West

S = South E = East




DL = District Lot



Frac = Fractional











(4) It is not necessary to include references to water, improvement or assessmentdistricts, or legal notations such as "hereunto annexed is Easement No. ...".

(5) The legal description(s) with parcel identifier number(s) must be recorded entirelywithin Item 2 and must not continue onto a schedule.

(6) If the space is not sufficient for the parcel identifier number(s) and legaldescription(s), set out the parcel identifier number(s) and legal description(s) in aschedule and enter "SEE SCHEDULE" in Item 2.

EXAMPLE:

2. Parcel Identifier(s) and Legal Description(s) of Land: *



(8) Please note that land title office mark up of the parcel affected is done by PID numberonly.


(10) In the case of a partial release, ensure that the land described in this Item is the onlyland that is to be released from the charge.

EXAMPLE:

2. Parcel Identifier(s) and Legal Description(s) of Land: *

(PID)NO PID NUMBER169 740 266

(LEGAL DESCRIPTION)Lot 3, Sec 5, Esquimalt Dist, Plan 4532Lot 1, Sec 44, Rge 4E, ODYD, Plan 4532

ITEM 3 – Nature of Interest

Instruction

(1) Enter a brief description of the interest and the name of the person entitled to theinterest.

(2) If the general instrument is intended to operate as a release of a registered charge,enter a description of the charge and its registration number and enter "N/A" for thedocument reference. In most cases the person entitled to the interest will be the



registered owner.

EXAMPLE:



PERSON ENTITLED TOINTEREST

Release of MortgageNo. M1160

N/A Registered Owner

(3) While the above example states "Release of Mortgage No. M1160" in the DescriptionColumn, the words "Discharge of Mortgage No. M1160" are acceptable. In the caseof a lease, the words "surrender of Lease No. L1160" will be appropriate.

(4) Where a charge (e.g. an easement) only affects part of the land described in Item 2,there must be a statement to that effect in the Description of Interest column.

(5) Where there is a dominant tenement associated with the charge, a description of thedominant tenement, including the PID number, must be set out in the Person Entitledto Interest column.

EXAMPLE:




Easement over partshown on Plan 1160

Registered Owner of Lot 1,Sec 5,Rge 4E, ODYD, Plan 4523(PID No. 170 772 622)

User Guide

(1) The following classes of instrument that create or constitute any of the followingmust be in Form C:

(a) an assignment of rents that is not part of a mortgage;

(b) an easement;

(c) an equitable charge other than a floating charge;

(d) an agreement to extend a registered mortgage or charge over other land;

(e) an agreement to modify a registered charge;

(f) a priority agreement;



(g) a lease, option to lease or agreement to renew a lease;

(h) an option to purchase;

(i) a right of first refusal;

(j) a right to purchase;

(k) a statutory right of way;

(l) a positive or negative covenant, other than a declaration of building scheme inForm 35 of B.C. Reg. 334/79;

(m) an assignment of a charge other than an assignment in Form 27 or 28 of B.C.Reg. 334/79;

(n) a release or discharge of a charge or interest.

(2) As a general rule, any instrument that creates a voluntary charge agreed to by theparties or that voluntarily releases a charge must be in Form C. If the signature of theowner of the land affected by the charge is not necessary to create the charge, do notuse the general instrument form. Similarly, where the signature of the charge holder isnot necessary to effect a release of it, do not use the general instrument form.

(3) Please note the following:

(a) a debenture security or security agreement that creates a mortgage of specificland must be in Form B;

(b) a debenture security or security agreement that does not create a mortgage ofspecific land must be in Form C where it creates an equitable charge other thana floating charge;

(c) if the equitable charge created by the debenture or security agreement is afloating charge, the instrument need not be in Form C (in which case theapplication to register shall be in Form 17 of B.C. Reg. 334/79);

(d) a floating charge on land is not registerable until it has crystallized;

(e) if the instrument is a supplemental debenture or a supplemental securityagreement, and it purports to modify or extend a registered charge, theinstrument must be in Form C;

(f) if the instrument is a supplemental debenture or a supplemental securityagreement that creates a mortgage of specific land in circumstances where theprincipal debenture or security agreement is unregistered, the instrument mustbe in Form B.

(4) For document reference, enter the general instrument page number and the paragraphnumber where the interest is created (the words of grant). Where the words creatingthe interest are contained in a set of filed standard charge terms, enter the filingnumber of the set and the page and paragraph number where the interest is created.

EXAMPLE:




DESCRIPTION DOCUMENT REFERENCE(page and paragraph)

PERSON ENTITLEDTO INTEREST

LeaseNo. ST88

Standard Charge Terms Transferee

Page 2 − 10, Paragraph 4 − 19

Easement Page 6Paragraph 6.08

Transferee

(5) The following list contains examples of instruments that shall not be in Form C (thelist is not exhaustive):

(a) builder's lien;

(b) caveat;

(c) change of name application;

(d) court order;

(e) tax sale notice;

(f) transmission;

(g) any other instrument, the form of which is prescribed

(i) under the Act, or(ii) under any other enactment,

where applied for in Form 17 of B.C. Reg. 334/79.

(6) Generally, the instruments listed in subsection (5) create involuntary charges or arealready prescribed under B.C. Reg. 334/79. Unless a form of application is dispensedwith by the registrar, or is otherwise prescribed, application to register them shall bein Form 17.

(7) If at the time the general instrument is executed it is intended to register the interestsubject to a certificate of pending litigation, the appropriate entry may be made in thisItem. If that decision is made after execution, file a separate election as requiredunder section 216 (2) (b) of the Act.

(8) Where the general instrument is intended to

(a) assign a charge,

(b) modify a charge,

(c) postpone a charge, or

(d) release a charge

please enter a brief description of the nature of the transaction and the chargesaffected by it.

EXAMPLE:






Release of MortgageM−1234

N/A Registered Owner

Modification of LeaseL4567

Page 6Paragraph 7 − 9

Landlord/Tenant

Assignment of LeaseL7654

Entire Instrument Assignee

Priority Agreementgranting Mortgage4321priority over Mortgage7655 and Lease 7742

Page 1 − 3Paragraph 4 − 10

Owner: MortgageNo. 4321

ITEM 4 – Terms

Instruction

(1) Part 2 of the general instrument that creates, assigns, modifies, enlarges or governsthe priority of a charge consists of one of

(a) filed standard charge terms, or

(b) express charge terms appended as Part 2.

(2) Since the list in subsection (1) is exhaustive, only one may be selected.

(3) Where filed standard charge terms are selected, they are considered to be Part 2 of thegeneral instrument. Where express charge terms are used, these must be entitled"TERMS OF INSTRUMENT − PART 2" and be attached to Part 1 of the generalinstrument immediately after any schedules to Form C.

(4) In the case of a release, the general instrument will be in Part 1 only. There will be noPart 2. Any saving language describing rights not specifically released may be set outin Item 7.

(5) In the case of a modification agreement, a priority agreement or surrender of lease,the terms of the modification, priority or surrender of lease are to be treated asexpress charge terms and are to be appended as Part 2 of the general instrument.

User Guide

(1) There are 3 options for completing Item 4:

(a) if a set of filed standard charge terms is to be incorporated, enter "X" in theappropriate box and enter the filing number assigned to the set by the land titleoffice;

(b) if express terms are to be attached, enter "X" in the appropriate box and annexthem as Part 2;



(c) if the instrument is intended to release a charge, enter "X" in the appropriatebox.

(2) A selection of filed standard charge terms will include any addition, deletion ormodification to those terms referred to in Item 7.

ITEM 5 – Transferor(s)

Instruction

(1) In the case of an individual, enter the full name of the transferor.

(2) In the case of a corporation, enter its name and its British Columbia incorporation orregistration number, if any.

(3) It is not necessary to set out occupations or addresses in this Item.

User Guide

(1) The "transferor" is the person who

(a) transfers, assigns, grants or otherwise creates an interest,

(b) postpones an interest,

(c) releases or discharges an interest, or

(d) in the case of the modification of a charge, granted the charge or is the ownerof the estate, charge or interest that is encumbered by the charge beingmodified.

(2) If the transferor is an individual, his or her name should be set out in full as it appearson the title.

(3) The address of the transferor need not be entered as part of the description.

EXAMPLE:

4. Transferor(s): *

JOHN PAUL SMITH and MARY JANE SMITH

(4) In the case of a corporation that is a British Columbia company or that is registered inBritish Columbia, enter the British Columbia incorporation or registration number. Ifit is neither incorporated nor registered in British Columbia, the name of itsgoverning jurisdiction may be entered in this Item.

EXAMPLE:

4. Transferor(s): *

ABC CO. LTD., (Inc. No. 2378) and DEF LIMITED, a companyincorporated in California, U.S.A.



(5) Preference is for transferor names to be printed or typed in capitals and underlined asshown in the above examples.

(6) If there is insufficient space to enter the names of all of the transferors, enter "SEESCHEDULE" and set out all the names in a schedule. Do not set out some names inItem 4 and some in a schedule.

EXAMPLE:

4. Transferor(s): *

SEE SCHEDULE

(7) In the case of a release of charge, enter the full name of the charge holder in this Item.

(8) In the case of a priority agreement, enter the full name of the charge holder grantingthe priority in this Item.

(9) In the case of a modification agreement, enter the name of the registered owner of theestate, charge or interest that is encumbered by the charge being modified in thisItem.

ITEM 6 – Transferee(s)

Instruction

(1) In the case of an individual, enter the full name and occupation of the transferee (and,if applicable, information respecting joint tenancy), together with a postal address forthe transferee.

(2) In the case of a corporation, enter its full name and British Columbia incorporation orregistration number. If it is not incorporated or registered in British Columbia, enter adescription of its governing jurisdiction. In either case, a postal address for thetransferee must be entered in this Item.

User Guide

(1) In all cases, the postal address must include a postal code. It is not sufficient to stateonly the name of the city, town or village.

(2) In the case of a transferee which has branch offices, a branch office address may beincluded as part of the description of the transferee, but a postal address must also beshown. The name of the governing jurisdiction of a corporation must always beentered unless the corporation is incorporated or registered in British Columbia.

EXAMPLE:


CTM, a Canadian chartered bank, having a branch office at910 Douglas Street, Victoria, B.C. and a postal address of P.O.Box 99, Station A, Victoria, B.C. V9T 7J8



(3) If the transferees are taking fractional interests, the shares must be expressed as awhole fraction. For example, an undivided 1/3 interest expressed as 33.3% is notpermitted.

(4) Preference is that transferee names be printed or typed in capitals and underlined asshown in the above examples.

(5) If there is insufficient space to enter the names, occupations and addresses of all thetransferees, enter "SEE SCHEDULE" and set out all the names, occupations andaddresses in a schedule.

EXAMPLE:


SEE SCHEDULE

(6) In the case of a release of charge, enter the full name of the owner of the encumberedestate or interest in this Item. Where that person is the fee simple owner, the words"Registered Owner" will be sufficient. It is not necessary to specify that person'soccupation, postal address and postal code.

(7) In the case of a priority agreement, enter the name of the holder of the charge orinterest for which the priority is given in this Item.

(8) In the case of a modification agreement, enter the name of the registered owner of thecharge being modified or the registered owner of the estate or interest benefiting fromthe charge being modified.

ITEM 7 – Additional or Modified Terms

Instruction

(1) Where the filed standard charge terms are to be added to, deleted or modified, theaddition, deletion or modification may be entered in Item 7 or in a schedule.

(2) If all of the additional, deleted or modified charge terms can be accommodated in thespace provided, enter them in Item 7.

(3) If all of the additional, deleted or modified charge terms cannot be accommodated inthe space provided, enter "SEE SCHEDULE" and set all of them out in a schedule.

(4) Do not use Item 7 to summarize any charge terms or to add to, delete or modifyexpress terms.

(5) Saving language may be added where appropriate. For example, in a release ofmortgage, the mortgagee may wish to add express words to set out that thecontractual obligation to pay is not affected in those cases where only the security isto be released.




Instruction

(1) Item 8 is to be used for the signature of all persons required to execute the generalinstrument and for officer certification.

(2) If the space provided is not sufficient for the signature of all persons required toexecute the general instrument, then an additional page may be added toaccommodate the additional signatures. The additional page must be in Form D.Where a signature of a party is certified by an officer, the certification must appear onthe same page as the party signature.

(3) The date of execution, given in year, month and day, must be indicated in the spaceprovided in Item 8. Years shall be entered using the last 2 digits (e.g. "89" for 1989).Months shall be designated by number (e.g. "2" for February).

User Guide

INDIVIDUAL TRANSFEROR OR TRANSFEREE

(1) For natural persons, under the "Party(ies) Signature(s)" column, the party name mustbe printed or typed immediately below the signature.

(2) Under the "Officer Signature(s)" column the name, address and professional capacity(e.g. solicitor, notary public or commissioner) must be typed or printed immediatelybelow the signature of the certifying officer.

EXAMPLE:

8. Execution(s):

Execution Date




V6C 1A1Solicitor

Y

89

M

3

D

15

Party(ies) Signature(s)



(4) The officer signature must appear directly opposite the party signature certified by theofficer. If one officer is certifying the signature of more than one party, add "as to allsignatures" or "as to the signatures of....." immediately below the officer signature.

EXAMPLE:

8. Execution(s):



Execution Date




Notary Public


Y

89

M

4

D

3




CORPORATE TRANSFEROR OR TRANSFEREE

(1) In the case of a general instrument executed by a corporation, use the format shownin the following example and ensure that the name of the authorized signatory istyped or printed immediately below the signature. Please note that affixation of acorporate seal is no longer required for Land Title Act purposes. The provisions ofsubsections (2), (3) and (4) under the heading "INDIVIDUAL TRANSFEROR ORTRANSFEREE" also apply to this form of execution.

EXAMPLE:

8. Execution(s):

Execution Date





Y

89

M

3

D

26




(2) If a company seal is to be affixed, please ensure that it does not obliterate or obscureany signature or information entered in this Item. In the case of a corporate attorney,it is the seal of the attorney that is to be affixed rather than that of the party for whomthe attorney acts.


(1) In the case of a general instrument executed by an attorney, use the appropriateformat shown in the following example. If a power of attorney is already filed in theland title office, enter the filing number immediately below the signature. The



provisions of subsections (2), (3) and (4) under the heading "INDIVIDUALTRANSFEROR OR TRANSFEREE" also apply to this form of execution.

EXAMPLE:

8. Execution(s):

Execution Date




V2C 4Y9Solicitor

Y

89

M

3

D

13



JOHN JOE SMITH



(1) In the case of a general instrument executed by a corporate attorney, it must be clearthat the signatory is an authorized signatory of the corporate attorney and that thecorporation is acting as the attorney for the party. The provisions of subsections (2),(3) and (4) under the heading "INDIVIDUAL TRANSFEROR OR TRANSFEREE"also apply to this form of execution.

EXAMPLE:

8. Execution(s):

Execution Date




V9C 9Y5Solicitor

Y

89

M

3

D

13






(1) If the transferor(s)/transferee(s) signature(s) cannot be certified by an officer, enter"SEE AFFIDAVIT OF EXECUTION" and attach an affidavit that complies with Part5 of the Land Title Act. Note that the affidavit is part of Form C and must have a page



number.

(2) The affidavit must state the reason why officer certification cannot be obtained. Thereason must be sufficient for the registrar to accept the affidavit in lieu of the officercertification. In those cases where the affidavit evidence of execution is submitted,the registrar is not likely to exercise his discretion unless officer certification issimply impossible to obtain under the circumstances or the general instrument wasexecuted outside British Columbia.

(3) In those cases where the general instrument is executed outside British Columbia, theregistrar will accept that it is difficult to obtain an officer certification in all cases andwill accept the affidavit of execution in lieu of an officer certification.

EXAMPLE:

8. Execution(s):

Execution Date



Y

89

M

3

D

13



LAND TITLE ACT

FORM D

EXECUTIONS CONTINUED

........................................................................................................................................

Execution Date



Officer Signature(s) Y M D Transferor/Borrower/PartySignature(s)

Officer Certification:Your signature constitutes a representation that you are a solicitor, notary public or other person authorized by theEvidence Act, R.S.B.C. 1996, c. 124, to take affidavits for use in British Columbia and certifies the matters set out inPart 5 of the Land Title Act as they pertain to the execution of this instrument.

LAND TITLE ACT

FORM E

SCHEDULE

........................................................................................................................................

ENTER THE REQUIRED INFORMATION IN THE SAME ORDER AS THEINFORMATION MUST APPEAR ON THE FREEHOLD TRANSFER FORM,MORTGAGE FORM OR GENERAL DOCUMENT FORM.



Schedule Form


Instruction

(1) Each page of the schedule must be numbered in the top right corner.

(2) The page numbers assigned to the schedule must be in sequence with the numbersassigned to the preceding page(s) of the transfer form.

User Guide

(1) Attachments to a freehold transfer or mortgage form must be in the following order:

(a) additional page or pages to accommodate additional signatures and officercertifications, if any, in Form D;

(b) one or more schedules, in Form E;

(c) express mortgage terms, if any;

(d) affidavit of execution, if any.

(2) Attachments to a general document form must be in the following order:

(a) additional page or pages to accommodate additional signatures and officercertifications, if any, in Form D;

(b) one or more schedules, if any, in Form E;

(c) attachment containing the terms of the instrument;

(d) affidavit of execution, if any.

(3) Entries in a schedule in Form E must be

(a) labelled by subheadings identical to those in the freehold transfer, mortgage orgeneral document form to which Form E is attached, and

(b) made in the same order as they would have been in the freehold transfer,mortgage or general document form to which Form E is attached.

(4) The schedule in Form E is only to be used to set out information that, due to limitedspace, cannot be accommodated in the freehold transfer, mortgage or generaldocument form.

(5) The schedule in Form E is not to be confused with the attachment to the generaldocument form that contains the terms of the instrument. This attachment may belabelled "TERMS OF INSTRUMENT" and attached immediately after any schedule.

(6) Do not assign number or letter designations (such as "Schedule A" or "Schedule 1")to different pages or parts of the schedule. These are not necessary.

(7) All labelled subheadings must be in block capitals and be numbered in accordancewith the item number of the transfer form to which Form E is attached.

(8)



Special covenants (such as those of a guarantor) that do not correspond to an item ofa transfer form may be set out at the end of the schedule and labelled accordingly.

(9) At the bottom of the last page of the last attachment to the transfer form, type or print"END OF DOCUMENT".

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 mortgagewhich incorporates prescribed standard mortgage terms, either by an election in the mortgageform or by operation of law.

Interpretation

1. (1) In these mortgage terms:

"borrower" means the person or persons named in the mortgage form as aborrower;

"borrower mailing address" means the postal address of the borrower set out inthe mortgage form or the most recent postal address provided in a written noticegiven by the borrower to the lender under these mortgage terms;

"borrower's promises and agreements" means any one or more of theborrower's obligations, promises and agreements contained in this mortgage;

"court" means a court or judge having jurisdiction in any matter arising out ofthis 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 themortgage form;

"interest calculation period" means the period or periods for the calculation ofinterest 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 describedin the mortgage form including every incidental right, benefit or privilegeattaching to that land or running with it and all buildings and improvements thatare now or later constructed on or made to that land;



"lease" means the leasehold interest, if any, of the borrower referred to in themortgage form;

"lender" means the person or persons named in the mortgage form as a lenderand includes any person to whom the lender transfers this mortgage;

"lender mailing address" means the postal address shown on the mortgage formor the most recent postal address provided in a written notice given by the lenderto the borrower under these mortgage terms;

"loan payment" means the amount of each periodic payment shown on themortgage form;

"maturity date" means the balance due date shown on the mortgage form and isthe date on which all unpaid mortgage money becomes due and payable, or suchearlier date on which the lender can lawfully require payment of the mortgagemoney;

"mortgage form" means Form B under the Land Title (Transfer Forms)Regulation and all schedules and addenda to Form B;

"mortgage money" means the principal amount, interest and any other moneyowed by the borrower under this mortgage, the payment of which is secured bythis mortgage;

"payment date" means each payment date commencing on the first paymentdate shown on the mortgage form;

"place of payment" means the place of payment shown on the mortgage form orany other place specified in a written notice given by the lender to the borrowerunder these mortgage terms;

"principal amount" means the amount of money shown as the principal amounton the mortgage form as reduced by payments made by the borrower from timeto time, or increased by the advance or readvance of money to the borrower bythe lender from time to time, and includes all money that is later added to theprincipal amount under these mortgage terms;

"receiver" means a receiver or receiver manager appointed by the lender underthis mortgage;

"taxes" means all taxes, rates and assessments of every kind which are payableby any person in connection with this mortgage, the land or its use andoccupation, or arising out of any transaction between the borrower and thelender, but does not include the lender's income tax;

"this mortgage" means the combination of the mortgage form and thesemortgage terms.

(2) In this mortgage the singular includes the plural and vice versa.

What this mortgage does

2. (1) In return for the lender agreeing to lend the principal amount to the borrower, theborrower 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 andagreements.

(2) 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 ofthe lease less the last month of that term.

(3) This means that

(a) this mortgage shall be a charge on the land, and

(b) the borrower releases to the lender all the borrower's claim to the landuntil the borrower has paid the mortgage money to the lender, inaccordance with these mortgage terms, and has performed all of theborrower's promises and agreements.

(4) The borrower may continue to remain in possession of the land as long as theborrower performs all of the borrower's promises and agreements.

(5) When the borrower has paid the mortgage money and performed all theborrower's promises and agreements under this mortgage and the lender has noobligation to make any further advances or readvances, the lender will no longerbe entitled to enforce any rights under this mortgage and the borrower will beentitled, at the borrower's cost, to receive a discharge of this mortgage. Thedischarge must be signed by the lender and must be registered by the borrower inthe land title office to cancel the registration of this mortgage against the land.

Interest

3. (1) Interest is chargeable on the mortgage money and is payable by the borrower.

(2) Interest is not payable in advance. This means that interest must be earned beforeit is payable.

(3) Interest on advances or readvances of the principal amount starts on the date andon the amount of each advance or readvance and accrues on the principal amountuntil the borrower has paid all the mortgage money.

(4) Interest payable on any part of the principal amount advanced before the interestadjustment date is due and payable to the lender on the interest adjustment date.

(5) At the end of each interest calculation period, unpaid accrued interest will beadded to the principal amount and bear interest. This is known as compoundinterest.

Payment of the mortgage money

4. The borrower promises to pay the mortgage money to the lender at the place ofpayment in accordance with the payment provisions set out in the mortgage formand these mortgage terms.

Promises of the borrower



5. (1) The borrower promises

(a) to pay all taxes when they are due and to send to the lender at the place ofpayment, or at any other place the lender requires, all notices of taxeswhich the borrower receives,

(b) if the lender requires the borrower to do so, to pay to the lender

(i) on each payment date the amount of money estimated by thelender to be sufficient to permit the lender to pay the taxes whenthey are due, and

(ii) any money in addition to the money already paid towards taxesso that the lender will be able to pay the taxes in full,

(c) to apply for all government grants, assistance and rebates in respect oftaxes,

(d) to comply with all terms and conditions of any charge or encumbrance thatranks ahead of this mortgage,

(e) to keep all buildings and improvements which form part of the land ingood condition and to repair them as the lender reasonably requires,

(f) to sign any other document that the lender reasonably requires to ensurethat payment of the mortgage money is secured by this mortgage or by anyother document the borrower has agreed to give as security,

(g) not to do anything that has the effect of reducing the value of the land,

(h) not to tear down any building or part of a building which forms part of theland,

(i) not to make any alteration or improvement to any building which formspart of the land without the written consent of the lender,

(j) if the borrower has rented the land to a tenant, to keep, if required by thelender, records of all rents received and of all expenses paid by theborrower in connection with the land and, at least annually, have astatement of revenue and expenses for the land prepared by a professionalaccountant if the lender requires and to give a copy of the statement to thelender if the lender requires the borrower to do so,

(k) to insure and keep insured against the risk of fire and other risks and lossesthat the lender asks the borrower to insure against, with an insurancecompany licensed to do business in British Columbia, all buildings andimprovements on the land to their full insurable value on a replacementcost basis and to pay all insurance premiums when due,

(l) to send a copy of each insurance policy and renewal certificate to thelender at the place of payment,

(m) to pay all of the lender's costs, including legal fees on a solicitor and clientbasis, to

(i) prepare and register this mortgage, including all necessary stepsto advance and secure the mortgage money and to report to the



lender,

(ii) collect the mortgage money,

(iii) enforce the terms of this mortgage, including efforts to compelthe borrower to perform the borrower's promises andagreements,

(iv) do anything which the borrower has promised to do but has notdone, and

(v) prepare and give the borrower a discharge of this mortgagewhen the borrower has paid all money due under this mortgageand the borrower wants it to be discharged,

(n) if the lender requires the borrower to do so, to

(i) give the lender in each year post−dated cheques for all loanpayments due for that year and for taxes, and

(ii) arrange for all loan payments to be made by pre−authorizedchequing,

(o) to pay any money which, if not paid, would result in a default under anycharge or encumbrance having priority over this mortgage or which mightresult in the sale of the land if not paid, and

(p) to pay and cause to be discharged any charges or encumbrances describedin subsection (2) (b) which are not prior encumbrances permitted by thelender under this mortgage.

(2) The borrower declares to the lender that

(a) the borrower owns the land and has the right to mortgage the land to thelender,

(b) the borrower's title to the land is subject only to

(i) those charges and encumbrances that are registered in the landtitle office at the time the borrower signed the mortgage form,and

(ii) any unregistered charges and encumbrances that the lender hasagreed to in writing, and

(c) subject to paragraph (b), the borrower

(i) has not given any other charge or encumbrance against the land,and

(ii) has no knowledge of any other claim against the land.

(3) The insurance policy or policies required by subsection (1) (k) shall contain amortgage clause approved by the lender that states that payment of any loss shallbe made to the lender at the place of payment or any other place the lenderrequires and, if this mortgage is not a first mortgage, the amount of any paymentmade by the insurance company shall be paid to the borrower's lenders in theorder of their priorities.



(4) The borrower gives up any statutory right to require the insurance proceeds to beapplied in any particular manner.

Agreements between the borrower and the lender

6. (1) The lender will use the money paid to the lender under section 5 (1) (b) to paytaxes unless there is a default in which case the lender may apply the money inpayment of the mortgage money.

(2) By this mortgage the borrower grants and mortgages any additional or greaterinterest in the land that the borrower may later acquire.

(3) Any money paid to the lender under this mortgage shall,

(a) prior to a default, be applied first in payment of interest, secondly inpayment of the principal amount and thirdly in payment of all other moneyowed by the borrower under this mortgage, and

(b) after a default, be applied in any manner the lender chooses.

(4) The lender may at any reasonable time inspect the land and any buildings andimprovements which form part of it.

(5) If the lender takes possession of the land the lender will not be responsible formaintaining and preserving the land and need only account to the borrower forany money which the lender actually receives in connection with this mortgageor the land.

(6) The lender may spend money to perform any of the borrower's promises andagreements which the borrower has not performed and any money so spent shallbe added to the principal amount, bear interest from the date that the money wasso spent, and be immediately due and payable to the lender.

(7) If the borrower wants to give any notice to the lender, the borrower must do soby having it delivered to the lender personally or by sending it by registered orcertified mail to the lender mailing address or to any other address later specifiedin writing by the lender to the borrower.

(8) If the lender wants to give any notice to the borrower, the lender must do so byhaving it delivered to the borrower personally or by sending it by registered orcertified mail to the borrower mailing address or to any other address laterspecified in writing by the borrower to the lender.

(9) Any notice sent by mail is considered to have been received 5 days after it ismailed.

(10) Any notice to be given by the borrower to the lender or vice versa during a mailstrike or disruption must be delivered rather than sent by mail.

(11) The borrower is not released from the borrower's promises and agreements onlybecause the borrower sells the land.

(12) If the borrower has mortgaged anything else to the lender better to securepayment of the mortgage money, the lender may take all lawful proceedingsunder any of the mortgages in any order that the lender chooses.



(13) The lender does not have to advance or readvance the principal amount or therest or any further part of the principal amount to the borrower unless the lenderwants to even though

(a) the borrower has signed this mortgage,

(b) this mortgage is registered in the land title office, or

(c) the lender has advanced to the borrower part of the principal amount.

(14) The lender may deduct from any advance of the principal amount

(a) any taxes that are due,

(b) any interest that is due and payable to the date of the advance,

(c) the legal fees and disbursements to prepare and register this mortgageincluding other necessary steps to advance and secure the mortgage moneyand to report to the lender, and

(d) any insurance premium.

(15) The lender's right of consolidation applies to this mortgage and to any othermortgages given by the borrower to the lender. This means that if the borrowerhas 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 unlessthe borrower pays the lender all money owed by the borrower under thismortgage and all of the mortgages of other property.

Defaults

7. (1) A default occurs under this mortgage if

(a) the borrower breaks any of the borrower's promises and agreements,

(b) the borrower breaks any promise or agreement which the borrower hasmade to the lender in a mortgage of any other land or other property or inany other agreement the borrower has made with the lender even thoughthe borrower may not have broken any of the borrower's promises andagreements,

(c) the borrower becomes bankrupt,

(d) the land is abandoned or is left unoccupied for 30 or more consecutivedays,

(e) the land or any part of it is expropriated,

(f) the borrower sells or agrees to sell all or any part of the land or if theborrower leases it or any part of it without the prior written consent of thelender,

(g) the borrower gives another mortgage of the land to someone other than thelender without the prior written consent of the lender,

(h) the borrower does not discharge any judgment registered in the land titleoffice against the land within 30 days after receiving notice of its



registration, or

(i) the borrower allows any claim of builders lien to remain undischarged ontitle to the land for more than 30 days unless the borrower

(i) diligently disputes the validity of the claim by taking allnecessary legal steps to do so,

(ii) gives reasonable security to the lender to pay the claim in full ifit is found to be valid, and

(iii) authorizes the lender to use the security to pay the lien in full.

(2) If a default occurs under this mortgage, it will have the same effect as though adefault had occurred under any other mortgage or agreement between theborrower and the lender.

Consequences of a default

8. (1) If a default occurs, all the mortgage money then owing to the lender will, if thelender chooses, at once become due and payable.

(2) If a default occurs the lender may, in any order that the lender chooses, do anyone or more of the following:

(a) demand payment of all the mortgage money;

(b) sue the borrower for the amount of money due;

(c) take proceedings and any other legal steps to compel the borrower to keepthe borrower's promises and agreements;

(d) enter upon and take possession of the land;

(e) sell the land and other property by public auction or private sale, or leasethe land on terms decided by the lender

(i) on 30 days notice to the borrower if the default has continuedfor 30 days, or

(ii) without notice to the borrower if the default has continued for60 days or more;

(f) apply to the court for an order that the land be sold on terms approved bythe court;

(g) apply to the court to foreclose the borrower's interest in the land so thatwhen the court makes its final order of foreclosure the borrower's interestin the land will be absolutely vested in and belong to the lender;

(h) appoint a receiver of the land;

(i) enter upon and take possession of the land without the permission ofanyone and make any arrangements the lender considers necessary to

(i) inspect, lease, collect rents or manage the land,

(ii) complete the construction of any building on the land, or



(iii) repair any building on the land;

(j) take whatever action is necessary to take, recover and keep possession ofthe land.

(3) Nothing in subsection (2) affects the jurisdiction of the court.

(4) If the lender sells the land by public auction or by private sale the lender will usethe amount received from the sale to pay

(a) any real estate agent's commission,

(b) all adjustments usually made on the sale of land,

(c) all of the lender's expenses and costs described in subsection (6), and

(d) the mortgage money

and will pay any surplus

(e) according to an order of the court if the land is sold by an order of thecourt, or

(f) to the borrower if the land is sold other than by an order of the court.

(5) If the money available to pay the mortgage money after payment of thecommission, adjustments and expenses referred to in subsection (4) (a) to (c) isnot sufficient to pay all the mortgage money, the borrower will pay to the lenderon demand the amount of the deficiency.

(6) The borrower will pay to the lender on demand all expenses and costs incurredby the lender in enforcing this mortgage. These expenses and costs include thelender's cost of taking and keeping possession of the land, the cost of the timeand services of the lender or the lender's employees for so doing, the lender'slegal fees and disbursements on a solicitor and client basis, unless the courtallows legal fees and disbursements be paid on a different basis, and all othercosts and expenses incurred by the lender to protect the lender's interest underthis mortgage. These expenses and costs will be added to the principal amount,be payable on demand and bear interest until they are fully paid.

(7) If the lender obtains judgment against the borrower as a result of a default, theremedies described in subsection (2) may continue to be used by the lender tocompel the borrower to perform the borrower's promises and agreements. Thelender will continue to be entitled to receive interest on the mortgage money untilthe judgment is paid in full.

(8) If the lender does not exercise any of the lender's rights on the happening of adefault or does not ask the borrower to cure it, the lender is not prevented fromlater compelling the borrower to cure that default or exercising any of thoserights in connection with that default or any later default of the same or any otherkind.

Construction of buildings or improvements

9. (1) The borrower will not construct, alter or add to any buildings or improvementson the land without the prior written consent of the lender, and then only in



accordance with accepted construction standards, building codes and municipalor government requirements and plans and specifications approved by the lender.

(2) If this mortgage is intended to finance any construction, alteration or addition, thelender may make advances of the principal amount to the borrower based on theprogress of construction. The lender will decide whether or not any advances willbe made, the amount of the advances, and when they will be made.

Leasehold mortgage

10. (1) This section applies if the interest mortgaged shown in the mortgage form is orincludes a leasehold interest.

(2) The borrower represents to the lender that

(a) the lease is owned by the borrower subject only to those charges andencumbrances that are registered in the land title office at the time theborrower signs the mortgage form,

(b) the lease is in good standing,

(c) the borrower has complied with all the borrower's promises andagreements contained in the lease,

(d) the borrower has paid all rent that is due and payable under the lease,

(e) the lease is not in default, and

(f) the borrower has the right to mortgage the lease to the lender.

(3) The borrower will

(a) comply with the lease and not do anything that would cause the lease to beterminated,

(b) immediately give to the lender a copy of any notice or request receivedfrom the landlord,

(c) immediately notify the lender if the landlord advises the borrower of thelandlord's intention to terminate the lease before the term expires, and

(d) sign any other document the lender requires to ensure that any greaterinterest in the land that is acquired by the borrower is charged by thismortgage.

(4) Any default under the lease is a default under this mortgage.

(5) The borrower promises the lender that the borrower will not, without firstobtaining the written consent of the lender,

(a) surrender or terminate the lease, or

(b) agree to change the terms of the lease.

(6) The lender may perform any promise or agreement of the borrower under thelease.

(7) Nothing done by the lender under this section will make the lender a mortgagee



in possession.

Receiver

11. (1) The borrower appoints both the lender and any agent of the lender as theborrower's attorney to appoint a receiver of the land.

(2) The lender or the lender's agent may, if any default happens, appoint a receiver ofthe land and the receiver

(a) will be the borrower's agent and the borrower will be solely responsiblefor the receiver's acts or omissions,

(b) has power, either in the borrower's name or in the name of the lender, todemand, recover and receive income from the land and start and carry onany action or court proceeding to collect that income,

(c) may give receipts for income which the receiver receives,

(d) may carry on any business which the borrower conducted on the land,

(e) may lease or sublease the land or any part of it on terms and conditions thatthe receiver chooses,

(f) may complete the construction of or repair any building or improvement onthe land,

(g) may take possession of all or part of the land,

(h) may manage the land and maintain it in good condition,

(i) has the power to perform, in whole or in part, the borrower's promises andagreements, and

(j) has the power to do anything that, in the receiver's opinion, will maintainand preserve the land or will increase or preserve the value or incomepotential of the land or the borrower's business on the land.

(3) From income received the receiver may do any of the following in any order thereceiver chooses:

(a) retain a commission of 5% of the gross income or any higher commissionapproved by the court;

(b) retain enough money to pay or recover the cost to collect the income and tocover other disbursements;

(c) 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 topreserve the land from damage by weather, vandalism or any other cause;

(d) pay any money that might, if not paid, result in a default under any chargeor encumbrance having priority over this mortgage or that might result inthe sale of the land if not paid;

(e) pay taxes in connection with anything the receiver is entitled to do under



this mortgage;

(f) pay interest to the lender that is due and payable;

(g) pay all or part of the principal amount to the lender whether or not it is dueand payable;

(h) pay any other money owed by the borrower under this mortgage;

(i) pay insurance premiums.

(4) The receiver may borrow money for the purpose of doing anything the receiver isauthorized to do.

(5) Any money borrowed by the receiver, and any interest charged on that moneyand all the costs of borrowing, will be added to and be part of the mortgagemoney.

(6) A receiver appointed by the lender may be removed by the lender and the lendermay appoint another in the receiver's place.

(7) The commission and disbursements of the receiver will be a charge on the landand will bear interest at the interest rate.

(8) Nothing done by the receiver under this section will make the lender a mortgageein possession.

Strata lot provisions

12. (1) This section applies if the land described in the mortgage form is or becomes astrata lot created under the Condominium Act.

(2) The borrower will fulfill all of the borrower's obligations as a strata lot ownerunder the Condominium Act and the bylaws, rules and regulations of the stratacorporation and will pay all money owed by the borrower to the stratacorporation.

(3) The borrower gives to the lender the right to vote for the borrower under thebylaws of the strata corporation, but the lender is not required to do so or toattend or vote at any meeting or to protect the borrower's interest.

(4) At the request of the lender, the borrower will give the lender copies of allnotices, financial statements and other documents given by the strata corporationto the borrower.

(5) The borrower appoints the lender to be the borrower's agent to inspect or obtaincopies of any records or other documents of the strata corporation that theborrower is entitled to inspect or obtain.

(6) If the strata corporation transfers, charges or adds to the common property, oramends its bylaws without the consent of the lender, and if, in the lender'sopinion, the value of the land is reduced, the mortgage money shall, at thelender's option, immediately become due and payable to the lender on demand.

(7) Nothing done by the lender under this section will make the lender a mortgageein possession.



Subdivision

13. (1) If the land is subdivided

(a) this mortgage will charge each subdivided lot as security for payment of allthe mortgage money, and

(b) the lender is not required to discharge this mortgage as a charge on any ofthe subdivided lots unless all the mortgage money is paid.

(2) Even though the lender is not required to discharge any subdivided lot from thismortgage, the lender may agree to do so in return for payment of all or a part ofthe mortgage money. If the lender discharges a subdivided lot, this mortgage willcontinue to charge the subdivided lot or lots that have not been discharged.

Current and running account

14. If the mortgage form states that this mortgage secures a current or runningaccount, the lender may, on one or more occasions, advance and readvance all orpart of the principal amount and this mortgage

(a) will be security for payment of the principal amount as advanced andreadvanced and for all other money payable to the lender under thismortgage,

(b) will not be considered to have been redeemed only because

(i) the advances and readvances made to the borrower have beenrepaid, or

(ii) the accounts of the borrower with the lender cease to be in debit,and

(c) remains effective security for further advances and readvances until theborrower has received a discharge of this mortgage.

Covenantor's promises and agreements

15. (1) As the lender would not have agreed to lend the principal amount to theborrower without the promises of the covenantor and in consideration of thelender advancing all or part of the principal amount to the borrower at therequest of the covenantor, the covenantor promises

(a) to pay all the mortgage money when due, and

(b) to keep and perform all the borrower's promises and agreements.

(2) The covenantor agrees that, with or without notice, the following shall in no wayaffect any of the promises of the covenantor or the liability of the covenantor tothe lender:

(a) a discharge of the land or any part of the land from this mortgage;

(b) any disregard or waiver of a default;



(c) the giving of extra time to the borrower to

(i) do something that the borrower has agreed to do, or

(ii) cure a default;

(d) any other dealing between the borrower and the lender that concerns thismortgage or the land.

(3) All the covenantor's promises shall be binding on the covenantor until all themortgage money is fully paid to the lender.

(4) The covenantor is a primary debtor to the same extent as if the covenantor hadsigned this mortgage as a borrower and is not merely a guarantor or a surety, andthe covenantor's promises and agreements are joint and several with theborrower's promises and agreements. This means that the covenantor and theborrower are both liable to perform all the borrower's promises and agreements.

(5) If more than one person signs the mortgage form as covenantor, the promises areboth joint and several.

General

16. (1) This mortgage binds the borrower and the covenantor and their successors,executors, administrators and assigns.

(2) Each person who signs this mortgage as a borrower is jointly and severally liablefor all of the borrower's promises and agreements as though each such borrowerhad been the only borrower to sign.

(3) If any part of this mortgage is not enforceable all other parts will remain in effectand be enforceable against the borrower and any covenantor.

[Provisions of the Land Title Act, RSBC 1996, c. 250, relevant to the enactment of this regulation: sections185 (1), 225 and 227]



LAND TITLE (TRANSFER FORMS) REGULATION 53/90 · LAND TITLE (TRANSFER FORMS) REGULATION 53/90...

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