Common Contracts

MEMORANDUM OF UNDERSTANDING

April 15th, 2021

• Filed
  April 15th, 2021

This Memorandum of Understanding (“MOU”) sets out the proposed terms and conditions for the lease from TCHC to Mabelle of part of the lands known municipally as 49 Mabelle Avenue, Toronto, Ontario, commonly known as “Mabelle Park”, and shown outlined in blue on Schedule A to this MOU (“Mabelle Park”). Mabelle intends to construct a multi-purpose arts and culture building which will include washrooms, indoor/outdoor multi-purpose art and performance spaces, and office space (the “Project”) as shown on Schedules A and B hereto and the Preliminary Project Review prepared by Levitt Goodman Architectural Partners (“LGA”) on the Leased Premises as hereinafter defined and to offer programs to the public, including TCH Tenants, as hereinafter defined, in the Park. In consideration of the mutual covenants herein set out, the parties agree as follows: