Exhibit J Right Of First Refusal Page 3

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1.06
NO SALE FOR LOWER PRICE OR BETTER TERMS
The Grantor shall not offer for sale, transfer or assign the Property to any person
at a price lower or upon terms more favorable than the price and terms contained in the Notice
and if the Grantor receives a bona fide arms-length offer at a price or upon terms more favorable
than the price or terms contained in the Notice, the Grantor shall give notice thereof to the
Grantee as provided in Section 1.02 and the provisions of Section 1.01 and 1.03 shall be
applicable to such bona fide arms-length offer.
1.07
INFORMATION
Before accepting any bona fide arms-length offer pursuant to Section 1.05, the
Grantor shall notify the Grantee in writing stipulating the price and terms of such bona fide arms-
length offer and the name, home address, business address and business or occupation of the
person making the bona fide arms-length offer or if the bona fide arms-length offer is made by a
corporation, the names of all shareholders owning ten percent (10%) or more of the capital stock
of the corporation (if known to the Grantor) and the names of the directors of such corporation.
1.08
DEFINITIONS
In order to be deemed a bona fide arms-length offer within the meaning of this
Agreement, an offer must be in writing signed by the outside offeror, in a form legally
enforceable against the outside offeror. The term "arms-length" shall have the same meaning as
the meaning of that term in the Income Tax Act of Canada (as amended from time to time).
ARTICLE 2
MISCELLANEOUS
2.01
TERMINATION
This Agreement shall terminate upon the occurrence of any one of the following
events:
(a)
the written agreement of the Grantor and Grantee;
(b)
the purchase of the Property by the Grantee in accordance with Article 1
hereof; and
(c)
the Grantee ceasing to own any strata lot in the four phases of the
development known as Valley’s Edge Park and legally described as The
Owners, Strata Plan NES __________,

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