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York Condominium Corporation # 35 was registered in May 1971, under the laws of the Condominium Act of Ontario, the “Act”.  The Corporation was formed to manage and maintain, on behalf of the owners, the common elements of residential units commonly known as York Condominium # 35 (YCC 35), located in the City of Toronto.  For Canadian income tax purposes the Corporation qualifies as a not-for-profit organization which is exempt from income tax under the Income Tax Act.