HomeMy WebLinkAboutC-3067(C) - Jamboree, 3300 - Dedication Agreement 1996 - Fletcher Jones Motorcars• •
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DEDICATION AGREEMENT
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THIS AGREEMENT made and entered into on the .S4, day of
Jt�a. 1996, by and between The Irvine Company, a Michigan
corporation, dba Irvine Land Management ("TIC") and the City of
Newport Beach, a charter City and municipal corporation ("City") is
made with reference to the following:
A. TIC is the owner of a large parcel of vacant land
commonly known as the San Diego Creek North ("the Property") which
is depicted on the map attached as Exhibit A and legally described
in Exhibit B. TIC has previously transferred portions of the
adjacent property to the Transportation Corridor Agency for street
and highway purposes.
B. TIC is required, pursuant to the provisions of the
Circulation Improvement and Open Space Agreement ("CIOSA") to
dedicate the Property to the City, for public facility and open
space purposes, upon completion of development on all vacant
parcels described in CIOSA.
C. City desires to expedite acquisition of the Property and
immediately convey the Property to Fletcher Jones Motor Cars, Inc.
("Developer") to facilitate the development and operation of an
automobile dealership as opposed to the uses currently permitted
pursuant to CIOSA. In the absence of this Agreement, City would
potentially lose significant sales tax revenue in the event of
developer's relocation of its dealership to another jurisdiction.
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D. To assist the City in its efforts to preserve sales tax
revenues generated by Developer, TIC is willing to support
amendments to CIOSA which would expedite dedication of the Property
and authorize uses other than those permitted in CIOSA, provided
the Property is not used in a manner which will interfere with
TIC's existing contractual obligations or impede, or cause any
adverse physical or economic impact on, the development of TIC's
properties.
NOW THEREFORE the parties agree as follows:
1. Dedication.
Subject to the terms and conditions contained in this
Agreement, TIC agrees to convey the Property to City and City
agrees to accept the. Property from TIC.
2. Closing.
2.1 Closing of Transfer. The completion of the
conveyance shall occur upon satisfaction of all the conditions to
closing by delivery of the documents and instruments by the parties
to each other as provided in Section 3. The closing shall occur,
if at all, on or before the earlier of (i) ten (10) business days
after the conditions described in Section 3 have been satisfied or
January 31, 1996
(ii) m(XZXXXX%Wm(, (the Closing Date) .
2.2 Time is of the Essence. Time is of the essence as
to every provision of this Agreement of which time is an element.
If this transaction is not in a condition to close by the Closing
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Date, then the parties shall continue to comply with this Agreement
until a written demand or cancellation has been made by a party
entitled to do so.
3. Conditions to Closing.
The respective obligations of TIC and City to complete
the transactions contemplated by this Agreement are subject to
satisfaction of the following conditions at or prior to closing.
3.1 Conditions to TIC's Obligation to Complete the
Conveyance. TIC's obligation to convey the Property to City is
subject to satisfaction of the following conditions:
a. Due Authorization. The execution and delivery
of this Agreement by City and the performance of City's obligations
under this Agreement has been duly authorized by the City Council
of the City of Newport Beach and no further act or authorization is
necessary on City's part for execution, delivery or performance of
this Agreement.
b. City's Non -default. City shall not be in
default of any of its material obligations pursuant to this
Agreement and no event has occurred which would constitute a
material breach of City's representations or warranties contained
in this Agreement.
c. CIOSA Financina District. City shall provide
TIC with a copy of a Resolution of the City Council of the City of
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Newport Beach establishing a CIOSA Financing District pursuant to
the provisions of Chapter 3.32 of the Newport Beach Municipal Code,
and an opinion by counsel for the City that the District was formed
in accordance with all relevant provisions of state and local law.
d. Fair Share Fees. City shall pay TIC a sum
equal to fifty percent (50k) of the fair share fees paid by
Developer upon the issuance of the first grading or building permit
for the Property pursuant to the reimbursement provisions of CIOSA.
e. Block 500. City has approved amendments to the
Planned Community Text for Block 500 in Newport Center for the
purpose of establishing that the current parking supply for .all
uses within that Block satisfies the requirements of the Zoning
Code of the City of Newport Beach. City has delivered to TIC a
copy of the resolution of the City Council of the City of Newport
Beach confirming approval of the amendments.
f. Cost Agreements. City and TIC hereby agree:
(i) That TIC shall receive a Four Hundred
Thousand Dollar ($400,000) credit against the CIOSA advance which
represents the cost of constructing Bayview Way as well as a
commitment that the cost of Bayview Way extended will not be funded
out of the proceeds of bonds issued pursuant to the CIOSA financing
district;
(ii) That the cost of designing and
constructing the El Paseo Drive Storm Drain system shall be funded
solely through bonds issued pursuant to the CIOSA Financing
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District. The El Paseo Drive Storm Drain begins at the northerly
side of Coast Highway in Newport Center, proceeds through Irvine
Terrace Park along El Paseo Drive and discharges into Newport Bay
adjacent to the Bahia Corinthian Yacht Club parking lot. City
shall commence construction of the El Paseo Drive Storm Drain
within 180 days after issuance of the first building permit for any
TIC owned parcel on which development could result in an
incremental increase in flows into the El Paseo Drive storm drain
system. City shall not deny building permits, grading permits, or
other land use approvals on any TIC property the development of
which is conditioned, or potentially impacted, in whole or in part,
by the construction, or failure to construct, some or all of the
improvements integral to the El Paseo Drive Storm Drain system.
(iii) That City and Developer are solely
responsible for satisfying all of the conditions to entitlement to
development of the Property including conditions imposed by the
California Coastal Commission and other regulatory agencies.
g. Use of Property. City shall have approved
amendments to any appropriate ordinance, resolution, plan, or
policy to accomplish the following:
(i) Modify the provisions of the Planned
Community Text for the Property to authorize the use of the
Property as an automobile dealership or as otherwise permitted by
this Agreement;
(ii) Acknowledging that TIC has fully
satisfied any and all of its obligations pursuant to CIOSA, or any
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other agreement with respect to the Property;
(iii) To exclude the Property from the CIOSA
Financing District or related agreements to the extent necessary to
implement this Agreement;
h. Directional Sian. TIC shall have been granted all
necessary rights to construct and maintain a directional sign as
provided in Section 8.6 below.
i. Restriction on Contiguous Parcels. City shall have
previously acquired the Contiguous Parcels or shall otherwise have
assured TIC that such Contiguous Parcels will be acquired and
subject to the Special Restrictions. City also acknowledges that
it shall take title to the Property subject to the "Special
Restrictions," (as defined in Section 4.1(b) below).
j.
Approval of Conditions. TIC shall have approved all
conditions of approval imposed on the Property by the California
Coastal Commission and other governmental authorities relating to
development or use of the property.
3.2 Conditions to City Obligations.
City's obligations to accept the conveyance of the
Property are subject to satisfaction of the following conditions:
a. Due Authorization. The execution and delivery
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of this Agreement by TIC and the performance of TIC's obligations
under this Agreement have been approved by duly authorized
representatives of TIC and no further act or authorization is
necessary on TIC's part for the execution, delivery or performance
of this Agreement.
b. TIC's Non -default. TIC shall not be in default
of any of its material obligations pursuant to this Agreement and
no event has occurred which would constitute a material breach of
TIC's representations or warranties contained in this Agreement.
c. Delivery of Grant Deed. TIC shall have
delivered to City, and executed, a recordable grant deed to the
Property in the form attached to this Agreement as Exhibit C (the
"Grant Deed").
d. Inspection and Soil Test. City shall approve
the physical condition of the Property as provided in this
paragraph. Provided the City is not in breach of this Agreement,
City shall be entitled to execute and deliver to TIC an entry
permit (the "Entry Permit") and thereafter, during the inspection
period described in this paragraph, so long as the requirements of
such Entry Permit are complied with, City or Developer, or their
respective agents or subcontractors, shall be permitted to enter
the Property at any reasonable time for the purpose of conducting
customary soils, engineering, or hazardous materials tests and to
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inspect and survey the Property. City shall be deemed to have
approved all soil and all other physical conditions pertaining to
the Property unless it has delivered to TIC written notice of
disapproval within 90 days after the date of this Agreement or 30
days prior to the Closing Date. Timely delivery of such notice of
disapproval shall constitute failure of a condition to City's
obligations under this Agreement and City shall be entitled to
terminate this Agreement pursuant to paragraph 7.1 unless TIC and
City agree in writing to mitigate or cure the conditions upon which
the disapproval was based, provided, however, neither party shall
be under any obligation or duty to undertake any mitigation or cure
unless it has agreed to do so in writing.
e. Title Approval. The City shall, as soon as
reasonably practical, order a preliminary title report for the
Property to be issued by First American Title Company or such other
title company as is acceptable to both parties (the title company).
City shall promptly provide TIC with a copy of the preliminary
title report. City shall have inspected and approved the condition
of title to the new site. City shall be deemed to have approved
the condition of title to the new site unless it has delivered to
TIC written notice of disapproval within sixty (60) days after the
date of the preliminary title report. If City has timely notified
TIC of disapproval of any matter (other than liens for liquidated
monetary amounts) then TIC may notify City within fifteen (15) days
after delivery of City's notice of disapproval that TIC will cure
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such matter in which event this condition shall be deemed satisfied
as to that matter. If TIC does not timely notify City that it will
cure all matters disapproved by City then this condition to City's
obligations shall fail and City shall be entitled to terminate this
Agreement pursuant to Paragraph 7.1. Title to the Property to be
conveyed to City upon closing shall be subject to the Special
Restrictions, all matters described in the Grant Deed and all
matters affecting title except (i) liens for liquidated monetary
amounts which TIC shall be obligated to cure at closing; and (ii)
those matters, if any, which TIC shall agree in writing to remove
in response to any notice of disapproval which City has timely
delivered to TIC. If TIC agrees to remove any matters effecting
title to the Property it shall have until the Closing Date to do
so.
f. Acquisition of Contiguous Land. City's intention to
acquire the Property for transfer to Developer, for construction an
automobile dealership, is contingent on the acquisition of
contiguous land. City shall use its best efforts to negotiate
acquisition of two (2) parcels adjacent to the Property (Contiguous
Parcels - described in Exhibit A). Acquisition of the Contiguous
Parcels shall be a condition to City's obligation to accept
conveyance of the Property and failure of City to acquire
Contiguous Parcels shall entitle City to terminate this Agreement
pursuant to paragraph 7.1 provided, however, City's right to
terminate is contingent upon written notification to TIC within
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five (5) days prior to the Closing Date that City has not acquired
the Contiguous Parcels or the requisite interest therein.
4. Delivery.
4.1 Items to be Delivered by TIC.
TIC shall deliver on or before 4:00 p.m. on the
business day prior to the closing the following:
Grant Deed to the Property. An original
and fully executed and acknowledged Grant Deed conveying title to
the Property to City in the form attached to this Agreement as
Exhibit C. City shall execute and acknowledge its acceptance of
the Grant Deed and return the Grant Deed to TIC within three (3)
business days after delivery of the executed copy to the City by
TIC.
b. Special Restrictions. A fully executed
and original and acknowledged original of the "Declaration of
Special Land Use Restrictions, in form acceptable to TIC (Special
Restrictions). City shall execute and acknowledge the Special
Restrictions and return the original documents to TIC within three
(3) business days after delivery of the executed copy by TIC.
c. Funds. Funds sufficient to pay any costs
or prorations borne by TIC, if any, as provided in paragraphs 5.1
and 5.2 of this Agreement and funds sufficient to reimburse the
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costs paid by City, if any, required to be reimbursed pursuant to
this Agreement.
d. Other Documents. Such other documents or
items as TIC is required to deliver at closing or as City shall
reasonably request to carry out the agreement of the parties.
4.2 Items to be Delivered by City.
City shall prepare, approve, execute and
deliver to TIC on or before 4:00 p.m. on the business day prior to
closing the following:
a. All documents described in subparagraphs
3.1(c)(d)(e)(f)(g) and (h) to this Agreement.
b. Such other documents or items the City is
required to deliver at closing or as TIC may reasonably request to
carry out the agreement of the parties.
5. Costs and Prorations.
5.1 Costs, Closing and Title Fees. City shall pay
the documentary transfer taxes and the recording costs to record
the Grant Deed conveying the Property. TIC shall pay the cost of
recording the Special Restrictions. City shall pay all costs and
expenses of any title insurance policy covering the Property, any
endorsements to the policy of title insurance, and any surveys
required to obtain the requested title insurance. In no event
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shall City's election to obtain title insurance coverage be a
condition to, or cause of delaying the closing. TIC and City shall
bear their own respective legal and accounting costs, if any.
5.2 Taxes and Assessments.
All current property taxes and general and special
bonds and assessments, if any, shall be prorated between TIC and
the City as of closing based upon the latest available tax
information attributable to the Property. TIC shall be entitled to
the proceeds of any refund for taxes and assessments paid prior to
the closing.
6. Cancellation/ Termination.
6.1 City's Right to Terminate.
In the event there is a failure of any of the
conditions to City's obligations as set forth in paragraph 3.2,
City may terminate this Agreement by giving written notice to TIC
at any time prior to closing. Failure of City to terminate this
Agreement prior to the closing shall be deemed a waiver by City of
any condition which failed and if a condition required approval by
City such failure shall be deemed an approval of the previously
disapproved item. If City terminates this Agreement, City shall
pay all title cancellation charges unless the failure of the
condition was related to a breach by TIC in which event TIC shall
pay the cancellation charges.
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6.2 TIC's Right to Terminate.
In the event there is a failure of any of the
conditions to TIC's obligations as set forth in paragraph 3.1, TIC
may terminate this, Agreement by giving written notice to City at
any time prior to the closing. Failure of TIC to terminate this
Agreement prior to the closing shall be deemed a waiver by TIC of
the condition which has failed, and if a condition required
approval by TIC, such failure shall be deemed an approval of the
previously disapproved items, provided, however, this does not
apply to the approval of plans, specifications or other matters
relating to the improvement or the use of the Property, all of
which shall continue to be subject to TIC's review and approval
pursuant to this Agreement and the Special Restrictions. If TIC
terminates this Agreement as provided in this paragraph, then TIC
shall pay all title cancellation charges unless the failure of such
condition was related to a breach by the City in which event the
City shall pay the cancellation charges. Notwithstanding any such
waiver of a condition by TIC, if City accepts title to the
Property, TIC shall be deemed to have complied with its obligations
under CIOSA as to the Property.
7. Representations Warranties and Obligations.
In addition to all other representations, warranties
and obligations made in this Agreement, each party represents and
warrants to the other and acknowledges and agrees and follows:
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7.1 No Violation. The execution, delivery,
performance of and compliance with this Agreement has not resulted
in, and will not result in, violation of, or conflict with, or the
creation of any default under, any contract, agreement, law,
resolution or plan.
7.2 No Litigation. There is no litigation or legal.
proceeding, arbitration or investigation pending or threatened
which would effect the ability of either party to perform its
obligations pursuant to this Agreement.
7.3 Hazardous Materials. City acknowledges that
the Property may have been farmed or used for agricultural purposes
and fertilizers, pesticides, weed killers and other chemicals may
have been used or placed upon the Property. Except as provided
above, TIC warrants that as of the date of this Agreement, it has
no actual knowledge of any use or storage of hazardous materials,
hazardous substances or hazardous waste on the Property.
Notwithstanding the foregoing, City will acquire the Property, if
at all, "as is" in its present state and condition without any
warranty by TIC relative to hazardous materials or substances or
the physical suitability of the site for its intended use. The
"actual knowledge of TIC" shall mean the actual knowledge, without
any duty of inspection or investigation, of the corporate officers
or employees employed as the date of this Agreement having
responsibility for managing or selling the Property.
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7.4 Cooperation Regarding Permits. TIC shall
cooperate with City and any proposed transferee in the preparation,
filing and processing of any document necessary to secure permits
or land use entitlement required to construct any improvement on or
adjacent to the Property or the use of the Property consistent with
the Special Restrictions provided, however, TIC shall not be
required to pay any money in conjunction with its duty to
cooperate. City shall indemnify and hold TIC harmless from all
cost, expenses and liabilities arising out of any such permits or
entitlement and all applications relating thereto, processed by
City or Developer during the time that TIC owns the Property
(irrespective of whether TIC executed any such permit, entitlement
or application as owner of the Property). City shall obtain TIC's
prior written approval of all conditions of approval imposed by the
California Coastal Commission and other governmental entities prior
to the time City acquires title, such approval to be obtained prior
to the time City consents to, or finalizes any such conditions of
approval.
7.5 Cooperation Regarding Contiguous Parcels. TIC
shall cooperate with City, at no direct costs to TIC, and City's
efforts to obtain ownership and/or constructive use of the
Contiguous Parcels. In the event City is unable to directly obtain
constructive use of the Property currently owned by TCA and
adjacent to Jamboree, but the TCA does agree to reconvey the
Property to TIC, TIC shall, in turn, convey the Property to City
15
and City shall grant an easement to the TCA necessary to
accommodate the proposed Jamboree Road flyover. City shall execute
such documents as may be necessary so as to subject the Contiguous
Parcels to the Special Restrictions.
7.6 Directional Sign. City shall use its best
efforts to preserve the off -site directional sign currently located
at the corner of Jamboree and Bristol. In the event the ultimate
development of the Property precludes preservation of the off -site
directional sign, City shall permit TIC to install a similar sign
on any property owned or controlled by City that is not right-of-
way dedicated for street and highway purposes subject only to a
determination that the presence of the sign at that location will
not constitute a hazard to persons or property.
8. General Provisions.
8.1 Assignment.
City shall not assign its rights or interests
under this Agreement to any person or entity other than Developer
without TIC's express written consent which may be withheld in
TIC's sole discretion.
8.2 Force Maieure.
Each of the dates provided in this Agreement
shall be deemed extended for, and throughout, such additional
period or periods of time as performance is prevented or delayed
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due to strikes, lock -outs, material shortages, acts of God,
injunction, or other matters reasonably beyond that party's
control.
8.3 Further Documents.
The parties agree to cooperate in good faith
with one another and to execute and deliver documents, and
otherwise perform, as may be reasonably necessary or appropriate to
complete the conveyance contemplated by this Agreement. If this
Agreement is terminated for any reason, each party shall deliver to
the other and without charge any and all documents which that party
may have obtained or prepared with respect to the Property.
City shall deliver to TIC, if requested and without charge, copies
of any and all soils reports, plans and engineering studies,
traffic studies and feasibility studies prepared by or on behalf of
City or Developer which are in City's possession and which are not
deemed confidential by Developer or the preparer. TIC shall not
disclose, to any third party, the contents of any report, plan, or
study prepared by or on behalf of Developer without Developer's
written consent.
8.4 Waiver, Consent and Remedies.
Either party may specifically and expressly
waive, in writing, any requirement or breach of this Agreement, but
that specific waiver shall not constitute further continuing waiver
of any preceding or succeeding breach or failure to perform the
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same or other provision.
8.5 Attorneys Fees.
In the event any declaratory or other legal or
equitable action is instituted between TIC and the City in
connection with this Agreement then, as between City and TIC, the
prevailing party shall be entitled to recover all of its costs and
expenses including court costs and reasonable attorneys' fees.
8.6 Notices.
Any notices, request, demand, consent or the
communication required or permitted pursuant to this Agreement or
by law shall be given in writing or delivered to an officer or duly
authorized representative of the other party or by Untied States
mail duly certified (return receipt requested), postage prepaid and
addressed as follows:
a. If to TIC: Tom Redwitz
The Irvine Company
550 Newport Center Drive
Newport Beach, CA 92663
Copy to:
Jim Cavanaugh
The Irvine Company
550 Newport Center Dr.
Newport Beach, CA 92660
b. If to City: Kevin J. Murphy
City Manager
City of Newport Beach
3300 Newport Blvd.
P.O. Box 1768
Newport Beach, CA 92658
Copy to: Robert H. Burnham
City Attorney
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8.7 No addition to or modification of any provision
contained in this Agreement shall be effective unless fully set
forth in writing and executed by City and TIC.
THE IRVINE COMPANY,
a Michigan Corporation,
Dated: JAN 5 1996
William F. McFarland,
Executive Vice President,
The Irvine Company
Dated: JAN 5 1996
BY:
Chick C. Willette, President
Irvine Land Management, a
Division of The Ir
Company
CITY OF NEWPORT BEACH
Dated: / BY;
Ke J. . y, City Manager
City of Newport Beach
APPROVED AS TO FORM:
ert H. Burnham
City Attorney, City of Newport Beach
wb\agr\dedicati.agt
19
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THOSE PORTIONS OF THE IRVINE'S SUBDIVISION, IN THE CITY OF NEWPORT
BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP
THEREOF RECORDED IN BOOK 1, PAGE 88, OF MISCELLANEOUS RECORD MAPS
IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS
FOLLOWS:
PARCEL A (THE IRVINE COMPANY)
COMMENCING AT THE SOUTHERLY CORNER OF THE NORTHWESTERLY
ONE-HALF OF THE SOUTHEASTERLY ONE-HALF OF BLOCK 50 OF SAID IRVINE'S
SUBDIVISION, AS SAID CORNER IS SHOWN ON A MAP ATTACHED TO A DEED TO
SAID COUNTY RECORDED IN BOOK 1055, PAGE 115, OF OFFICIAL RECORDS OF
SAID COUNTY. THE BEARING OF THE SOUTHWESTERLY LINE OF SAID BLOCK
50 IS NORTH 49°21'51" WEST. SAID SOUTHERLY CORNER IS ALSO THE
CENTERLINE INTERSECTION OF JAMBOREE ROAD, 132 FEET WIDE, AS
DESCRIBED IN A DEED TO THE CITY OF NEWPORT BEACH, RECORDED IN BOOK
6135, PAGE 155, OF SAID OFFICIAL RECORDS, AND SAID SOUTHWESTERLY LINE;
THENCE SOUTH 40°38'09" WEST ALONG SAID CENTERLINE 112.80 FEET TO THE
BEGINNING OF A CURVE IN SAID CENTERLINE, CONCAVE SOUTHEASTERLY AND
HAVING A RADIUS OF 1600.00 FEET; THENCE SOUTHWESTERLY ALONG SAID
CURVE 142.99 FEET THROUGH A CENTRAL ANGLE OF 5°07'14"; THENCE
DEPARTING FROM SAID CENTERLINE SOUTH 54°29'05" EAST, RADIALLY TO SAID
CURVE, 81.00 FEET TO THE BEGINNING OF A NON -TANGENT CURVE, THE
RADIUS POINT OF WHICH BEARS SOUTH 54°29'05" EAST 1519.00 FEET FROM
SAID BEGINNING; THENCE NORTHEASTERLY ALONG SAID CURVE 135.75 FEET
THROUGH A CENTRAL ANGLE OF 5°07'14"; THENCE NORTH 40°38'09" EAST
20.68 FEET TO THE BEGINNING OF A CURVE, CONCAVE SOUTHERLY AND
HAVING A RADIUS OF 37.00 FEET; THENCE NORTHEASTERLY ALONG SAID CURVE
42.36 FEET THROUGH A CENTRAL ANGLE OF 65°35'21" TO THE BEGINNING OF
A NON -TANGENT CURVE, THE RADIUS POINT OF WHICH BEARS SOUTH 45°59'17"
WEST 1272.00 FEET FROM SAID BEGINNING; THENCE SOUTHEASTERLY ALONG
SAID CURVE 172.46 FEET THROUGH A CENTRAL ANGLE OF 7°46'06" TO THE
TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTHEASTERLY ALONG
SAID CURVE 127.46 FEET THROUGH A CENTRAL ANGLE OF 5°44'29" TO A POINT
TO BE KNOWN AS "POINT A"; THENCE CONTINUING SOUTHEASTERLY ALONG
SAID CURVE 315.58 FEET THROUGH A CENTRAL ANGLE OF 14°12'54" TO THE
BEGINNING OF A COMPOUND CURVE, THE RADIUS POINT OF WHICH BEARS
SOUTH 73°42'46" WEST ALONG 1072.00 FEET FROM SAID BEGINNING; THENCE
SOUTHEASTERLY ALONG SAID CURVE 165.72 FEET THROUGH A CENTRAL ANGLE
OF 8°51'26"; THENCE SOUTH 7°25'48" EAST 137.06 FEET TO THE BEGINNING OF
A CURVE CONCAVE WESTERLY AND HAVING A RADIUS OF 27.00 FEET; THENCE
SOUTHERLY ALONG SAID CURVE 14.24 FEET TO THE BEGINNING OF A NON-
TANGENT CURVE, THE RADIUS POINT OF WHICH BEARS NORTH 5°37'44" EAST
1748.06 FEET FROM SAID BEGINNING, SAID POINT TO BE KNOWN AS "POINT Be;
THENCE NORTHWESTERLY ALONG SAID CURVE 322.81 FEET THROUGH A
CENTRA ANGLE OF 10°34'50" TO THE BEGINNING OF A COMPOUND CURVE, THE
RADIUS POINT OF WHICH BEARS NORTH 16°12'34" EAST 1092.17 FEET FROM
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