Forest Practices Covenant
NOW THEREFORE THIS RESTRICTIVE COVENANT WITNESSETH that in consideration of the premises and of the sum of Ten Dollars ($10.00) now paid by the Transferee to the Transferor (the receipt and sufficiency of which is acknowledged by the Transferor), the parties hereto covenant and agree as follows:
1. Hereafter all Forest Practices for the Lands shall adhere to any draft standards of forest practices for private land that the Transferee may have issued on or about February 13, 1998 to the Private Forest Landowners Association ("Association") or any amendments thereof or any as may be stated in any memorandum of understanding signed between the Province of British Columbia and the Association of which the Transferor is a member.
2. If any provision of this Restrictive Covenant is at any time unenforceable or invalid for any reason it will be severable from the remainder of this Restrictive Covenant and, in its application at that time, this Restrictive Covenant will be construed as though such provision was not contained herein and the remainder will continue in full force and effect and be construed as if this Restrictive Covenant had been executed without the invalid or unenforceable provision.
3. This Restrictive Covenant is enforceable against the Transferor and the successors in title of the Transferor even if this Restrictive Covenant is not annexed to any land owned by the Transferee or signed by any successor in title to the Transferor.
4. The Transferor or its successor in title, as the case may be, is not liable for a breach of this Restrictive Covenant occurring after the Transferor or its successor in title, as the case may be, has ceased to be the registered owner of the Lands.
5. The Transferee agrees that if the Province of British Columbia enacts and brings into force any Act, regulation or standard under such Act or regulation ("New Law") relating to or regulating forest practices on private land within the forest land reserve, or if any of the Lands are removed from forest land reserve or agricultural land reserve, then the Transferee shall, upon demand of the Transferor, forthwith at the Transferees expense, release and discharge this Restrictive Covenant, in the case of the New Law, or release of the applicable Lands, in the case of removal from forest land reserve or agricultural land reserve.