In-camera Council meeting released decisions and reports
November 28, 2017

Lease of City-Owned Property at 128 Keefer Street

THAT Council authorize the Director of Real Estate Services to negotiate and execute a lease (the “Lease”) with Viola & Vishniakoff Physiotherapist
Corporation (the “Tenant”) for City-owned property situated at 128 Keefer Street as shown on Appendix A of the Administrative Report dated October
26, 2017, entitled “Lease of City-Owned Property at 128 Keefer Street”, and legally described as PID 007-690-380, Block 2, DL 196 & 2037, Plan
15452, Group 1 (the “Subject Property”) on the following terms and conditions:

Term: Five (5) Years, commencing August 1, 2018

Option to Renew: One (1) option to renew for a further Five (5) Year Term

Lease Area: Approximately 2,550 square foot commercial retail unit (the “Premises”)

Total Rent: Total rent, inclusive of common area maintenance and building insurance costs (the “Rent”) is based on the
following rates:
Year 1: s.17(1) per annum (s.17(1)psf) plus GST;
Year 2: s.17(1) per annum (s.17(1) psf) plus GST;
Year 3: s.17(1) per annum (s.17(1) psf) plus GST;
Year 4: s.17(1) per annum (s.17(1) psf) plus GST;
Year 5: s.17(1) per annum (s.17(1)psf) plus GST.
Total rental value (without deducting Tenant Inducements) is s.17(1) for the initial five (5) year term.

In addition to the Rent, the Tenant will pay for the replacement cost of three (3) existing heat pumps for the Premises, which were installed in
2016. The costs of the remaining amortization of the three (3) heat pumps is s.17(1) plus GST, which will be amortized over fifteen (15) years (180
instalments) and equate to s.17(1) per month plus GST. In the event the Tenant does not exercise the option to renew the Lease, the amortization
will be carried on by the next tenant. The payments will be in effect as of the commencement date.

Tenant Inducements: Cash Allowance – NIL

Fixturing Allowance: s.17(1) rent free period in which to install tenant improvements.

Free Rent: s.17(1) free rent period in lieu of a cash tenant improvement allowance.

Parking: The Landlord shall not provide any free parking.

Use: Health Care Centre offering Physiotherapy, Rehabilitative Pilates and Registered Massage Therapy. Retail sales of
physiotherapy exercise equipment and supplies, small group exercise and education/workshops.

Termination Clause: None

Other Terms And Conditions: The Lease is to be provided on the City’s current standard form of lease for commercial tenants in this
building. Terms and conditions of the Lease are to be drawn to the satisfaction of the Directors of Legal and Real Estate Services, it being noted that no legal right or obligation shall arise until the Lease is fully executed by both parties.

The Report dated October, 26, 2017, refers.

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