Bill 040703

..Title Authorizing the Commissioner of Public Property to execute and deliver to the Philadelphia Authority for Industrial Development ("PAID"), without consideration, a deed conveying fee simple title to a certain tract of City-owned land with the buildings and improvements thereon, situate at 2815 Ridge Avenue, generally under and subject to the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, the PAID, and the Philadelphia Industrial Development Corporation. ..Body THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS: SECTION 1. The Commissioner of Public Property is hereby authorized to execute and deliver to the Philadelphia Authority for Industrial Development ("PAID"), without consideration, a deed conveying fee simple title to the following described tract of ground, subject however to all the terms and conditions of the Philadelphia Industrial and Commercial Development Agreement between the City, the PAID, and the Philadelphia Industrial Development Corporation, as follows: ALL THAT CERTAIN lot or piece of ground, with the buildings and improvements thereon, situate in the Thirty-second Ward of the City of Philadelphia and described according to a plan thereof made December 10, 1964 by Vincent J. Nero, Surveyor and Regulator of the Third Survey District, as follows: BEGINNING at a point formed by the intersection of the southeasterly side of Sedgley avenue (sixty feet wide) and the northeasterly side of Ridge avenue (sixty feet wide); thence extending along the said southeasterly side of Sedgley avenue, north fifty degrees fifty-four minutes fifty-seven seconds east, three hundred sixty-three feet one and one-quarter inches to a point; thence extending south thirty-one degrees twenty seven minutes forty two seconds east, sixty-nine feet two inches to a point; thence extending north fifty-eight degrees thirty two minutes eighteen seconds east, twenty-three feet eight inches to a point; thence extending south thirty-one degrees twenty-seven minutes forty-two seconds east, eighty-eight feet two and three-sixteenths inches to a point; thence extending in a southwesterly direction, on a curved line bearing to the left, with a radius of two thousand nine hundred sixty feet, the arc distance of one hundred fifty-five feet nine and one-quarter inches to a point of tangent; thence extending south fifty degrees fifty-four minutes fifty-seven seconds west, two hundred feet ten and five-eighths inches to the northeasterly side of Ridge avenue aforesaid; thence extending along the said northeasterly side of Ridge avenue, north forty-two degrees twenty-six minutes forty-four seconds west, one hundred fifty-five feet three and one-quarter inches to the southeasterly side of Sedgley avenue, the first mentioned point and place of beginning. CONTAINING in area fifty-six thousand two hundred thirteen and seventy-five one-hundredths square feet. BEING the same premises which Donald K. Batt, Trustee of the Bankrupt Estate of Vanguard Air and Marine Corporation, by Deed dated May 8, 1964, recorded May 12, 1964 in Deed Book C.A.D. 174 page 412, granted and conveyed unto Pauline Cooper, single woman, in fee. WHEREIN it is recited that said Deed is made pursuant to Order of United State District Court in Bankruptcy Cause #27834, dated February 20, 1964 approving and confirming the sale of premises hereon described to New Jersey Business Investment Corp., as purchaser thereof for the sum of Seventy-two Thousand Five Hundred Dollars ($72,500). AND an Ordinance of The Council of The City of Philadelphia approved March 29, 1965 authorized the purchase of the hereinabove described premises for highway purposes, under certain terms and conditions. TOGETHER with all and singular the Buildings, Improvements, Ways, Streets, Alleys, Passages, Waters, Water-courses, Rights, Liberties, Privileges, Hereditaments and Appurtenances, whatsoever thereunto belonging, or in any wise appertaining, and the Reversions and Remainders, Rents, Issues and profits thereof; and all the Estate, Right, Title, Interest, Property, Claim and Demand whatsoever of them, the said Grantors, as well in law as in equity, or otherwise howsoever, of, in, and to the same and every part thereof. SECTION 2. The City Solicitor is hereby authorized to review and to approve all instruments and documents necessary to effectuate this Ordinance, which instruments and documents shall contain such terms and conditions as the City Solicitor shall deem necessary and proper to protect the interest of the City and to carry out the purposes of the Philadelphia Industrial and Commercial Development Agreement and this Ordinance. SECTION 3. Notwithstanding anything in the Philadelphia Industrial and Commercial Development Agreement to the contrary, proceeds from the sale of these properties shall be deposited in the City's General Fund. ..End