MAJOR TERMS: UNDERTAKING AGREEMENT ("UA") GEORGE BROWN COLLEGEUndertaking Agreement • November 23rd, 2016
PARTIES - Toronto Waterfront Revitalization Corporation (“Waterfront Toronto”)- City of Toronto (“City”) PROPERTY PIN 21384-0136 Block 3, Plan 66M-2476, City of Toronto (“Property”) TIMING To be executed concurrently with Agreement of Purchase and Sale between the City, as vendor, and George Brown College of Applied Arts and Technology (“Development Partner”) as purchaser (“Agreement of Purchase and Sale”), and Development Agreement between Waterfront Toronto and the Development Partner (“Development Agreement”). PURPOSE To obtain Waterfront Toronto's direct undertakings to the City and to ensure the attainment of certain obligations by the Development Partner for the benefit of the City in connection with the development of the Property with Development Partner’s project (“Proposed Development”). OBLIGATIONS OF WATERFRONT TORONTO Environmental Obligations of Waterfront Toronto Incorporating Development Agreement Obligations into Undertaking Agreement: Waterfront Toronto (WT), as rev