Section 2. Conveyance to Beach Street Corporation.
The Department of General Services, with the approval of the Governor, is authorized and directed on behalf of the Commonwealth of Pennsylvania to release, quitclaim, grant and convey to Beach Street Corp., a Pennsylvania corporation, its successors and assigns, for a consideration of $71,150, that tract of land situated in the bed of the Delaware River in the City and County of Philadelphia, Pennsylvania, between the bulkhead and pierhead lines, established by the Secretary of War on September 10, 1940, in the City and County of Philadelphia, Pennsylvania, consisting of all the muds and land currently or previously under the waters of the Delaware River and contained within the metes and bounds description set forth in paragraph (1) below and all riparian rights appertaining thereto, which tract of land is adjacent to and has a common boundary with the lands presently owned by the said Beach Street Corp.
(1) Beginning at a point on the northerly pierhead line
on the Delaware River where the same is intersected by the
dividing line between parcel A and parcel B as shown on a
plan entitled "Parcels A, B and C, Overall Plan" prepared by
Plum & Associates, Project No. 92-066 dated September 14,
1992, and from said beginning point running thence
(i) along the dividing line between parcel A and
parcel B as shown on the above referenced plan, north 25
degrees 43 minutes 08 seconds west a distance of 100 feet
0 inches to a rebar set; thence
(ii) continuing along the dividing line between
parcel A and parcel B, north 48 degrees 25 minutes 37
seconds west a distance of 113 feet 6 inches to a rebar
set; thence
(iii) continuing along the dividing line between
parcel A and parcel B, north 50 degrees 38 minutes 49
seconds west a distance of 318 feet 5/8 inches to a
point; thence
(iv) crossing through parcel A and running along the
northerly bulkhead line of the Delaware River as approved
by the Secretary of War on September 10, 1940, north 64
degrees 18 minutes 09 seconds east a distance of 166 feet
5 1/2 inches to a point; thence
(v) continuing along the northerly bulkhead line of
the Delaware River, south 48 degrees 30 minutes 57
seconds east a distance of 53 feet 5-5/8 inches to a
point; thence
(vi) continuing along the northerly bulkhead line of
the Delaware River, north 64 degrees 40 minutes 52
seconds east a distance of 936 feet 8-5/8 to a point;
thence
(vii) continuing along the northerly bulkhead line
of the Delaware River, north 32 degrees 24 minutes 26
seconds west a distance of 149 feet 2-1/4 inches to a
point; thence
(viii) continuing along the northerly bulkhead line
of the Delaware River, north 64 degrees 04 minutes 09
seconds east a distance of 296 feet 3-3/4 inches to a
point; thence
(ix) along the easterly line of parcel A as shown on
the above referenced plan, south 25 degrees 02 minutes 08
seconds east a distance of 586 feet 6-3/8 inches to a
point on the pierhead line of the Delaware River; thence
(x) along the northerly pierhead line of the
Delaware River, south 64 degrees 16 minutes 59 seconds
west a distance of 1217 feet 11-1/4 inches to the point
and place of beginning.
(2) 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.