SCHEDULE 4 ADMINISTRATION AND SERVICING FEES

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1 SCHEDULE 4 ADMINISTRATION AND SERVICING FEES THE AMOUNTS SET FORTH HEREIN SUPERSEDE ANY AMOUNTS THAT MAY BE CONTAINED IN THE CHARGE OR STANDARD CHARGE TERMS. NOTWITHSTANDING anything to the contrary contained in the Standard Charge Terms (and in the event of any contradiction, the following provisions shall prevail), the Borrower(s) covenants and agrees with Equitable Bank as follows: To pay to Equitable Bank its servicing fees for the following matters, in the amounts set forth: Missed Payment Fee Insurance Administration Tax Administration Default Proceedings Amortization Schedule Amortization Adjustment Mortgage Statements Discharge Administration Assumption Fee PPSA Fee Deferral Fee Payment Change Fee Variation Fee $200 payable for each missed or late installment and for processing each NSF cheque or other returned payment. If any cheque is returned NSF, any replacement cheque must be certified and Equitable Bank shall be entitled to have it certified, and to add all the costs of certification (including courier charges to and from the Borrower(s) s Bank) to the amount owing on the Mortgage. $200 payable for dealing with each cancellation, premium payment or other non-compliance with insurance requirements. $200 for tax status inquiry plus costs of municipal tax certificate. $750 payable for each demand letter, action or proceeding instituted. $25 for the preparation of an Amortization Schedule. $100 fee payable for any increase or decrease in the amortization period outside the maturity date of the mortgage. $100 for preparation of each Statement. $250 fee. Greater of $1,500 or ¼ of 1% of outstanding principal balance being assumed (regardless of whether or not assumption application is approved or completed.) $100 fee for new registrations, renewals, discharges, name changes, and postponements of PPSA registrations. $50 for each deferment given to the Borrower(s) permitting a delay in payment to a date other than the due date of such payment. $50 fee payable for each payment frequency change (ie. biweekly/monthly) and each payment date change during the term of the mortgage. Greater of $500 or 1/8 of 1% of outstanding principal balance payable for Equitable Bank s review and/or consent to any of the following: changes of the Borrower (including changes to the Borrower s structure) guarantors (including adding or removing guarantors), requests for allowance of further encumbrances (including but not limited to second mortgages) and any other variations to the Mortgage or the Security.

2 Inspection Fee Verification Fee Fee for Equitable Bank s out of pocket costs for each inspection conducted after default, or to preserve the security herein charged. Fee for Equitable Bank s out of pocket costs for verifying details of the Mortgage, including, but not limited to, title searches. Any administration and/or servicing fees owing by the Borrower(s) to Equitable Bank which is not paid shall be added to the mortgage indebtedness and shall bear interest at the rate herein set forth. The fees contained herein are effective as of time of printing. The above fee amounts are subject to change at any time. Page 2 of 6

3 SCHEDULE 5 ADDITIONAL PROVISIONS COMMERCIAL LOAN PROGRAM YOUR MORTGAGE DOCUMENTS SHALL INCLUDE THE FOLLOWING ADDITIONAL PROVISIONS IN ADDITION TO THE LENDER S STANDARD MORTGAGE PROVISIONS. NOTWITHSTANDING anything to the contrary contained in the Standard Charge Terms (and in the event of any contradiction, the following provisions shall prevail), the Borrower covenants and agrees with the Lender as follows: 1. PREPAYMENT AMOUNTS FOR A CLOSED MORTGAGE The Borrower, if not in default, shall have the right to prepay, on any regular payment date that the Lender is open for business, the whole, but not any partial payments of principal, of the outstanding principal balance of the Mortgage, (the Prepayment Amount ) with accrued interest to the date of prepayment together with all monies owing, secured or payable under the Mortgage, and together with the greater of: a) three months interest on the Prepayment Amount at the date of prepayment calculated at the mortgage interest rate payable by the Borrower hereunder; and b) the amount calculated by the Lender, if any, as of the date of prepayment, by which the present value of the future payments until maturity of the Mortgage with respect to the Prepayment Amount, discounted at the Government of Canada Yield, calculated semi-annually not in advance, exceeds the outstanding principal of the Prepayment Amount (the Mortgage Yield Maintenance Fee ) as determined by the Lender. Government of Canada Yield means the yield to maturity, calculated semi-annually, which an assumed new issue of non-callable Government of Canada bonds denominated in Canadian dollars would carry if issued at par for a term to maturity as close as possible but not shorter, to the remaining term of this Mortgage from and after the payment date. 2. PREPAYMENT AMOUNTS FOR AN OPEN MORTGAGE If the Mortgage is open for prepayment, and provided the Borrower is not in default, the Borrower may prepay all or part of the principal amount of the Mortgage on any regular payment date without notice or additional charge, other than the following administration fees: Page 3 of 6

4 (a) If the Borrower prepays the full principal amount of the Mortgage before the second anniversary of the Interest Adjustment Date, the Borrower may be required to pay, at the Lender s discretion, an administration fee for processing any such prepayment. (b) If the Borrower makes a partial prepayment of the principal amount of the Mortgage, the Borrower must continue to make the regular payments on the regular payment dates until all of the monies owing under the Mortgage are paid in full. 3. DEFAULT In the event the principal sum secured hereunder becomes due and payable as a result of a breach, default (including payment after the maturity date of the Mortgage) or acceleration (collectively Acceleration ) for any reason whatsoever, the Borrower shall pay to the Lender the following amounts: (a) the principal outstanding secured hereunder as of the date of the Acceleration; (b) accrued interest on the principal sum outstanding to date of payment; (i) (ii) (c) (d) costs and all other monies secured and payable pursuant to the within Mortgage; and the greater of the following two amounts: three months interest on the principal balance outstanding at the time of such Acceleration calculated at the mortgage interest rate payable by the Borrower hereunder; and the Mortgage Yield Maintenance Fee (calculated as if the amount paid pursuant to (a) above was a Prepayment Amount). 4. LIQUIDATED DAMAGES The Borrower and the Covenantor acknowledge that the prepayment costs are paid as liquidated damages and not as a penalty given that it is a genuine pre-estimate of the loss of interest income that will be suffered by the Lender as a result of the prepayment of principal including prepayment thereof by reason of the Borrower s breach, default or acceleration, having regard to the fact that the Lender matches fixed rate mortgage investments against obligations, that the Lender is not able to immediately re-invest funds received in mortgages and that the re-investment of funds in mortgages involves significant costs. 5. PAYMENT AFTER MATURITY DATE The principal sum secured hereunder, accrued interest, together with any charges, costs or other amounts due in connection with the Mortgage (the Final Balance Outstanding ) are due on the maturity date of the Mortgage. If the Final Balance Outstanding is not paid until after the maturity date of the Mortgage, in order to obtain a Page 4 of 6

5 discharge you must pay, in addition to the Final Balance Outstanding, an amount equal to three months interest on the then outstanding principal balance of the Mortgage, calculated at the interest rate set out in the Mortgage. Page 5 of 6

6 6. REQUEST FOR CONVERSION VARIABLE RATE MORTGAGE ONLY Provided the Mortgage is not in default and further provided that the Borrower(s) has maintained a satisfactory payment record, the Borrower(s) may, with the Lender s consent, without bonus or penalty, convert this Mortgage to a fixed rate term based on the Lender s posted rates. The term selected must be equal to or greater than the remainder of the Term. The new term and interest rate, provided such request for conversion is approved by the Lender, will take effect on the first payment date following the Borrower(s) notification in writing that they wish to convert to a fixed rate term. 7. RENEWAL ON MATURITY In the absence of either full payout of funds or a signed renewal agreement from the Borrower on the maturity date, the Lender, at its sole option, may automatically renew the mortgage for a period of one month from the maturity date, at an interest rate equal to the greater of 15% per annum or the Equitable Prime Rate on the maturity date plus 5% per annum, calculated daily, and compound and payable monthly. In the event that a full payout or a renewal agreement has not been finalized within this one month period, then there will be no further extensions without the express written consent of the Lender. For greater certainty, the Lender shall not be obligated to offer any renewal. All other terms and covenants of this Commitment and the Loan shall continue to apply. The Loan may be paid in full at any time during the one month renewal period. The Borrower acknowledges and agrees that the Lender is entitled to charge and apply a processing fee to the Loan principal for processing such renewal. 8. PRIME RATE Equitable Prime Rate means that annual interest rate that is established and posted from time to time by the Lender, at its discretion, as the interest rate then in effect for determining interest on Canadian dollar mortgages or loans made by the Lender in Canada. If it is necessary for the Lender to prove the interest rate in effect it is charging at any time, the Borrower(s) agrees that the production by the Lender of a written certificate setting out the interest rate at that time is conclusive proof for that purpose. The Equitable Prime rate is available on the Lender s website at Any reference to Prime or Prime Rate shall mean the Equitable Prime Rate. Additionally, any reference to Lender shall also mean Chargee, and any reference to Borrower shall also mean Chargor. Page 6 of 6