Section 4. (a) The Department of General Services, with the approval of the Governor, is hereby authorized and directed on behalf of the Commonwealth of Pennsylvania to convey to the Venango Area Riding For the Handicapped Association, Inc., the following tract of land situate in Frenchcreek Township, Venango County, Pennsylvania, for a consideration of one-half of the fair market value:
All that certain piece or parcel of land situate in Frenchcreek Township, Venango County, Pennsylvania, bounded and described as follows:
Beginning at a point marked by the intersection of the center line of the public road known as Niles Valley Road, also known as Township Road No. 356, with the center line of Pennsylvania Legislative Route 60020; thence along the center line of Pennsylvania Legislative Route 60020, north 88 degrees 4 minutes 54 seconds east 1,228.57 feet to a point therein; thence along other lands now or late of the Commonwealth of Pennsylvania, south 2 degrees 44 minutes 13 seconds west 1,806.07 feet to the center line of Pennsylvania Traffic Route 62; thence along the center line of Pennsylvania Traffic Route 62, north 85 degrees 42 minutes 47 seconds west 800.78 feet to a point therein; thence along other lands now or late of the Commonwealth of Pennsylvania, being along the line dividing the Borough of Polk and the Township of Frenchcreek, north 4 degrees 4 minutes 28 seconds east 757.83 feet to a point; thence continuing along the same north 70 degrees 50 minutes 38 seconds west 460.50 feet to a point in the center line of the Niles Valley Road, also known as Township Road 356; thence along the center line of Township Road 356, north 2 degrees 44 minutes 13 seconds east 796.91 feet to the place of beginning.
Containing 40 acres pursuant to a survey prepared by William C. Moffitt, Registered Surveyor No. 8496-E, dated April 24, 1993.
(b) The conveyance shall be made under and subject to all easements, servitudes and rights of others, including, but not confined to, streets, roadways and rights of any telephone, telegraph, water, electric, sewer, gas or pipeline companies, as well as under and subject to any interest, estates or tenancies vested in third persons, whether or not appearing of record, for any portion of the land or improvements erected thereon.
(c) The deed of conveyance shall contain a clause that the property conveyed shall be used for riding for persons with disabilities, and, if at any time the Venango Area Riding For the Handicapped Association, Inc., or its successor in function conveys the property or permits the property to be used for any purpose other than that specified in this section, the title to the property shall immediately revert to and revest in the Commonwealth of Pennsylvania.
(d) The deed of conveyance shall be approved as provided by law and shall be executed by the Secretary of General Services in the name of the Commonwealth of Pennsylvania.
(e) Costs and fees incidental to the conveyance shall be borne by the grantee.
(f) The deed of conveyance shall contain the following covenant:
Development shall not be permitted within 200 feet of the streams on the north and south edges of the site.
(g) The proceeds of the conveyance shall be deposited in the Agricultural Conservation Easement Purchase Fund. The proceeds shall be deposited in accordance with section 7.1(a) of the act of June 18, 1982 (P.L.549, No.159), entitled "An act providing for the administration of certain Commonwealth farmland within the Department of Agriculture."