Certificate of Completion

City of Toronto

The Fairmont Royal York Hotel, 100 Front Street West, Toronto, ON M5J 1E3

The Fairmont Royal York Hotel, 100 Front Street West, Toronto, ON M5J 1E3

Fairmont Royal York Hotel Renovate 168 Guestrooms & 2 Mock-Up Rooms, Floors 3 & 4

Date substantially performed:

2003-02-12

Date certificate signed:

2003-02-12

Name of Owner

3428851 Canada Ltd.

Address of Owner

1800 Bankers Hall E., 855 2nd Street S. W., Calgary, Alberta

Name of Contractor

Pantar Developments Inc.

Address of Contractor

25 Wingold Ave., Unit 2, Toronto, ON M6B 1P8

Deed to Owner: E126871