Certificate of Completion

Simcoe County,

Cedar Pointe Business Park, Barrie, Ontario

Cedar Pointe Business Park, Barrie, Ontario

Paving repairs

Date substantially performed:

2002-09-26

Date certificate signed:

2002-08-27

Name of Owner

Morguard Real Estate Investment Trust

Address of Owner

c/o Morguard Investments Ltd., 200 Yorkland Blvd., Ste. 200,

Name of Contractor

K.J. Beamish Construction Co. Ltd.

Address of Contractor

P.O. Box 2177, Orillia, ON L3V 6S1

14, 34, 65, 45, 55, 65, 44 Cedar Pointe Drive, Barrie, Ontario