Declaration 01 - Introduction

I INTRODUCTION

1. Definitions - The following terms used herein, have the meanings set out below, unless the context otherwise requires:

(a) common elements means all the property except the units;

(b) common interests means the interest in the common elements appurtenant to a unit;

(c) owner means the owner or owners of the freehold estate or estates in a unit and common interest, but does not include a mortgagee unless in possession;

(d) property means the land and interest appurtenant to the land described in the description and Schedule "A" annexed hereto and includes any land and interest appurtenant to lands that are added to the common elements;

(e) board means the board of directors of the Corporation;

(f) registered means registered under The Land Titles Act or the Registry Act;

(g) unit means a part or parts of the land included in the description and designated as a unit by the description and comprises the space enclosed by its boundaries and all the material parts of the land within this space at the time the declaration and description are registered;

(h) the definition of "Unit" for the purposes of the duties to repair and maintain under Section 41 and 42 of the Act and this declaration shall extend to all improvements made by the Declarant in accordance with its architectural plans notwithstanding that some of such improvements may be made after registration of the declaration;

(i) commercial unit means Unit 1, Level 1 and its appurtenant common interests;

(j) residential units means Units 1 to 3 inclusive Level 2 and Units 1 to 6 inclusive. Levels 3 to 10 inclusive;

(k) other terms used herein shall have ascribed to them the definitions contained in the Act, as amended from time to time.

2. Statement of Intention

The Declarant intends that the lands and premises described in Schedule "A" be governed by the Act, and any amendments thereto.

3. Consent of Encumbrancers

The consent, in the prescribed form, of every person having a registered Charge or Mortgage against the land or interests appurtenant to the land described in the description described in Schedule "A", is contained in Schedule "B" attached hereto.

4. Boundaries of Units and Monuments

The monuments controlling the extent of the units are physical surfaces mentioned in the boundaries of units in Schedule "C" attached hereto.

5. Common Interests and Common Expenses

Each owner shall have an undivided interest in the common elements as a tenant in common with all other owners and shall contribute to the common expenses in the proportions set forth opposite each unit number in Schedule "D" attached hereto. The total of the proportions of the common interests shall be one hundred per cent (100%).

6. Address for Service

The Corporation's address for service and mailing address shall be 120 Eglinton Avenue E. Suite 710, Toronto, Ontario, M4P 1E2 or such other address as the corporation may by by-law or by resolution of the Board of Directors determine. The notice thereof shall be registered in the prescribed form. (By Board Resolution, the Corporation's current Address for Service is c/o Royale Grande Property Management, 73 Richmond Street West, Toronto, ON. M5H 4E8)