BEING A BY-LAW TO AUTHORIZE THE EXECUTION OF A SUBDIVISION PRE-SERVICING AGREEMENT DATED THE 3RD DAY OF DECEMBER, 2001 BETWEEN GAP CONSTRUCTION CO. LTD. & 641904 ONTARIO LTD. AND THE CORPORATION OF THE CITY OF NORTH BAY BAY RELATING TO THE SKI RIDGE ESTATES PHASE II (VERMONT CRESCENT).