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2 Capital Estate Developments - Denman Prospect - Contract for Sale - 5% deposit L\340046689.1 1.Transfer1.1 The Seller agrees to transfer the Crown Lease to the Buyer for the Price on the terms ofthis Contract.2.Terms of Payment2.1 The Buyer must pay the Deposit to the Seller on the Date of this Contract.2.2 The Deposit may be paid by cheque but if it is not paid on time, or if it is paid by chequewhich is not honoured on first presentation, the Buyer is in default.2.3 If the Deposit is not paid on time in accordance with clause 2.2 or, if it is paid by chequewhich is not honoured on first presentation, the Buyer is in default and immediately andwithout the notice otherwise necessary under clause 11, clause 12 will apply2.4 The Buyer acknowledges that the Seller has an unconditional right:(a)to have a sum equal to 10% of the Price paid as Deposit on the making of thisContract; and(b)to keep or recover that sum as set out in clause 12.1, if the Buyer defaultsunder this Contract.2.5 Exc...