parties, to Pier 35 1/2 LLC, or its nominee (hereinafter
"lessee") for an initial term of 99 years, land within the bed
of the Delaware River in the City of Philadelphia, and to extend
the period for all or any portion of the leased premises for an
additional term of up to 99 years.
(b) Description of property.--The land to be leased is more
particularly described as follows:
ALL THAT CERTAIN lot or piece of ground together with the
improvements thereon erected, situate in the 5th Ward of the
City of Philadelphia, Pennsylvania and shown on a Boundary and
Topographic Survey made for Pier 35 1/2, LLC, Penn Street &
Fairmount Avenue, Pier 35 N, Lot 9, Map 5 N 4, 5th Ward, City &
County of Philadelphia, Commonwealth of Pennsylvania by Control
Point Associates, Inc., dated February 3, 2005 and more
particularly described as follows to wit:
Beginning at a point on the dividing line Between Lot 9, Map 5 N
4, lands now or formerly Berman and Lot 16, Map 6 N 6, lands now
or formerly Isle of Capri Associates, L.P., Said point being
distant the following two (2) courses and distances from the
intersection and southeasterly right-of-way line of Penn Street
(60 foot wide right-of-way, legally open) and the easterly
right-of-way line of Delaware Avenue (A.K.A. Christopher
Columbus Boulevard, A.K.A. SR. 2001, 150 foot wide right-of-way,
legally open):
A. Along the southeasterly right-of-way of Penn Street,
North 43 degrees 30 minutes 00 seconds East, a distance of
140.229 feet to a drill hole, THENCE;
B. Along the dividing line between Lot 9, Map 5 N 4 and
Lot 16, Map 6 N 6, South 47 degrees 02 minutes 00 seconds
east, a distance of 194.573 feet to the true point and place
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