RESOLUTION OF THE OWNERS, STRATA PLAN VIS3403 (Conversion Schedule & Certificate)

RESOLUTION OF THE OWNERS, STRATA PLAN VIS3403 (Conversion Schedule & Certificate)

WHEREAS:

A. A strata corporation may, in accordance with section 273.1 of the Strata Property Act, pass a winding-up vote resolution to proceed with the cancellation of the strata plan and the voluntary winding up and dissolution of the strata corporation without a liquidator and may apply to the Supreme Court of British Columbia for an order confirming such resolution;

B. The purpose of this resolution is to approve, authorize, ratify and give effect to the cancellation of the strata plan and the winding up and dissolution of the Strata Corporation and to authorize and direct the Strata Council of the Strata Corporation to take such steps as are required pursuant to Sections 272 through 275 of Division 1 of Part 16 of the Strata Property Act to apply to the Registrar of Land Titles to cancel Strata Plan VIS3403 (the “Strata Plan”) and give effect to the winding up and dissolution of the Strata Corporation without a liquidator and that the owners become the owners (as tenants in common if there is more than one person comprising the owners) of the land shown on the Strata Plan, any land held in the name of or on behalf of the Strata Corporation, but not shown on the Strata Plan, and any personal property held by or on behalf of the Strata Corporation; and

C. The Strata Corporation has no debts other than debts held by persons who have consented in writing, under sub-paragraph 274(c)(ii)(B) of the Strata Property Act, to the winding up of the Strata Corporation;

BE IT RESOLVED

BE IT RESOLVED as a resolution passed by an 80% vote pursuant to Section 272 of the Strata Property Act and otherwise in accordance with all relevant provisions of the Strata Property Act, that:

1. The Strata Plan be cancelled and the Strata Corporation be wound up and dissolved voluntarily and without a liquidator pursuant to Sections 272 through 275 of Division 1 of Part 16 of the Strata Property Act and the owner(s) of the strata lots within the Strata Plan become tenants in common of the land shown on the Strata Plan, any land held in the name of or on behalf of the Strata Corporation, but not shown on the Strata Plan, and any personal property held by or on behalf of the Strata Corporation.

2. For the purposes of giving effect to the intent and purpose of this resolution, the owner(s) of the Strata Corporation hereby authorize, ratify and approve the following:

   (a) the cancellation of the strata plan;

   (b) the dissolution of the strata corporation;

   (c) the conversion schedule (the “Conversion Schedule”) in the form attached as Schedule “A” to this resolution, prepared in accordance with section 273 of the Strata Property Act; and (d) the conversion of each owner’s interest, in the owner’s strata lot and in the common property and common assets of the Strata Corporation, to an interest as a tenant in common in the shares set out in the Conversion Schedule in the following: (i) all land that was shown on the Strata Plan immediately before it was cancelled, (ii) all land held in the name of or on behalf of the Strata Corporation, but not shown on the strata plan, and (iii) personal property held by or on behalf of the Strata Corporation.

3. The Strata Council is authorized and directed to promptly take and perform all such steps and actions on behalf of the Strata Corporation as are necessary to give effect to this resolution, including but not limited to:

   (a) Approving, preparing, assembling, executing, delivering, and filing, and causing or authorizing to be approved, prepared, assembled, executed, delivered, and filed with the Land Title Office, in a form satisfactory to the Registrar of Land Titles, all applications, forms, instruments, documents, plans, and certificates as are required to give effect to the cancellation of the Strata Plan and the winding up of the Strata Corporation without a liquidator, including but not limited to the following: (i) obtaining the written consent to cancel the Strata Plan and wind up the Strata Corporation signed by all holders of registered charges against land shown on the Strata Plan and land held in the name of or on behalf of the Strata Corporation, but not shown on the Strata Plan; (ii) filing the Conversion Schedule; (iii) obtaining the written consent to the winding up signed by all holders of registered charges against land shown on the Strata Plan and any land held in the name of or on behalf of the Strata Corporation, but not shown on the Strata Plan; (iv) one or more certificates of Strata Corporation in the prescribed form stating, if required, that: (i) this resolution required pursuant to Section 272(1) of the Strata Property Act has been passed by an 80% vote, (ii) the Conversion Schedule and any reference or explanatory plans, as the case may be, conform to this resolution, and (iii) the Strata Corporation has no debts other than debts held by persons who have consented in writing, under paragraph 274(c)(ii)(B) of the Strata Property Act to the winding up of the Strata Corporation; (v) a reference plan as required by the Registrar of Land Titles in accordance with Section 274 of the Strata Property Act that shows the land shown on the Strata Plan and the land, if any, held in the name of or on behalf of the Strata Corporation, but not shown on the Strata Plan; and (vi) any document required by the Registrar of Land Titles: (1) to resolve the priority of interests of any registered charges against the land shown on the Strata Plan or held in the name of or on behalf of the Strata Corporation, but not shown on the Strata Plan, or (2) to transfer title to the land shown on the Strata Plan or held in the name of or on behalf of the Strata Corporation, but not shown on the Strata Plan; (collectively, the “Plans and Documents”) all as contemplated by or that are necessary to give effect to this resolution and in a form required under the Strata Property Act, the Land Title Act or other applicable legislation or regulations, as the case may be; and (c) Appointing, engaging, instructing, directing, and authorizing a lawyer, notary public, or land title agent to act as the agent of the Strata Corporation for purposes of filing and registering the Plans and Documents at the applicable land title office.