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SAMPLE TRUST AGREEMENT

[Note: This document is being provided to service managers as an eamp!e o" the t#pe o" documentation that ma# be re$uired in

connection %ith homeo%nership pro&ects under the A""ordab!e 'ousing Program( This document is not) and ma# not be re!ied

upon as) !ega! advice( Each service manager must obtain independent !ega! advice in connection %ith the deve!opment o" an#such documentation "or its o%n use( The Province assumes no responsibi!it# or !iabi!it# %ith respect to the re!iance upon and*or

use o" this document b# an# service manager+(

This Trust Agreement dated ,,,,,,,,,,, ) -../ is made

0ET1EEN:

[Service Manager+

2the 3Service Manager45

6 and 6

[7eve!oper+

6 and 6

[Trustee+

23Trustee45

RE89TALS:

A( The Service Manager and [7eve!oper+ have entered into an agreement dated 2the 3A'P Agreement45 pursuant to %hich)

among other things) the Service Manager agreed to provide certain !oans to e!igib!e purchasers o" certain a""ordab!e housing in a

deve!opment in [geographic area+) ;ntario(0( Section o" the A'P Agreement provides that) on the signing o" each !oan agreement b# the Service Manager and an e!igib!e

purchaser) the Service Manager %i!! trans"er the proceeds o" the !oan 2the 3Trust

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Trustee sha!! trans"er and de!iver to the ne% trustee the Trust

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No %aiver sha!! be in"erred "rom or imp!ied b# an# "ai!ure to act or de!a# in acting b# either part# in respect o" an# such de"au!t)breach or non6observance or b# an#thing done or omitted to be done b# a part# %ith respect thereto(

?( Amendments

No amendment o" this Agreement sha!! be e""ective un!ess made in %riting and signed b# the parties hereto(

?B( Assignment

This Agreement sha!! be binding upon) enure to the bene"it o") and be en"orceab!e b#) the parties hereto and their respective

successors and permitted assigns= provided) ho%ever) that neither this Agreement nor an# right or ob!igation hereunder ma# beassigned b# an# part# %ithout the prior %ritten consent o" the others to be given in the other partiesD so!e discretion(

9N 19TNESS 1'ERE;