NOTICE OF INTENTION TO DISPOSE OF LANDS OR IMPROVEMENTS

Public Notice Copy: Pursuant to Section 26(3) of the Community Charter, S.B.C. 2003, Ch. 26 and in accordance with Section 94 of the Community Charter, notice is hereby given that the Council of the Village of Burns Lake (the “Village”) proposes to make the following disposition:

Background:

The Village intends to acquire approximately 1.874 hectares of lands owned by 0706996 B.C. Ltd. (the “Company”), at 73 Highway 16, Burns Lake, legally described as Parcel Identifier: 006-743-510, Lot C, District Lot 5344, Range 5, Coast District, Plan 3040, and a subdivided portion of the lands at 500 Richmond Loop, legally described as Parcel Identifier: 015-135-462, That Part of District Lot 2502, Range 5, Coast District on Plan 2040, all as shown in the bold outline in the sketch plan of proposed subdivision below (collectively, the “Lands”). The consideration for the Lands will be $1.00 and the completion of roadworks to be constructed within the Lands, which are estimated to cost $900,000.00 (the “Roadworks”). The Lands are not being made available to the public for acquisition.

Grant of Option to Purchase

To secure the Village’s delivery of the Roadworks, the Village intends to grant a registrable Option to Purchase over the Lands in favour of the Company. The term of the Option to Purchase will be 2 years from the date of transfer of the Lands from the Company to the Village. The consideration payable by the Company to the Village for the Option to Purchase will be $1.00. If the Option to Purchase is exercised, the Company may acquire the Lands for the equivalent value of the Roadworks completed by the Village up to a maximum purchase price of $900,000.00, plus applicable taxes.

Inquiries with respect to this matter may be directed to:

Sheryl Worthing,

Chief Administrative Officer

250-692-7587