Section 16. Conveyance in City of Philadelphia, Philadelphia County.
(a) Authorization.--The Pennsylvania Historical and Museum Commission, with the approval of the Governor, is authorized on behalf of the Commonwealth of Pennsylvania to grant and convey the following tract of land together with any improvements thereon, situate in the 47th Ward of the City of Philadelphia, Philadelphia County, to New Freedom Theatre, Inc., for $1, under terms and conditions to be established in an agreement of sale.
(b) Property description.--The property to be conveyed under subsection (a) consists of the following:
ALL that certain unit in the property known, named and identified in the Declaration referred to below as "Freedom Theatre Condominium," located in the 29th Ward of the City and County of Philadelphia, Commonwealth of Pennsylvania, which has heretofore been submitted to the provisions of the Pennsylvania Uniform Condominium Act, 68 Pa.C.S. Section 3101, et seq., by the recording in the Philadelphia Department of Records of a Declaration dated July 10, 1992, recorded on July 13, 1992 in Deed Book VCS 111, Page 353, being and designated in such Declaration as Unit 1, as more fully described in said Declaration, together with a proportionate undivided interest in the Common Elements (as defined in the Declaration) of 30%.
BEING the same premises conveyed by New Freedom Theatre, Inc. to the Pennsylvania Historical and Museum Commission by deed dated July 10, 1992, and recorded at the Department of Records of the City and County of Philadelphia at Deed Book VCS 123 Page 132, Document Number 45614463.
ALSO BEING Philadelphia County OPA Account Number 772726001.
(c) Conditions.--The conveyance under this section shall be made under and subject to all lawful and enforceable easements, servitudes and rights of others, including, but not confined to, streets, roadways and rights of any telephone, telegraph, water, electric, gas or pipeline companies, as well as under and subject to any lawful and enforceable estates or tenancies vested in third persons appearing of record, for any portion of the land or improvements erected thereon.
(d) Restriction.--The conveyance authorized under this section shall be made under and subject to the condition, which shall be contained in the deed of conveyance, that no portion of the property conveyed shall be used as a licensed facility, as defined in 4 Pa.C.S. § 1103 (relating to definitions), or any other similar type of facility authorized under State law. The condition shall be a covenant running with the land and shall be binding upon the grantee, its successors and assigns. Should the grantee, its successors or assigns permit any portion of the property authorized to be conveyed in this section to be used in violation of this subsection, the title shall immediately revert to and revest in the grantor.
(e) Deed of conveyance.--The conveyance shall be made by special warranty deed to be executed by the Executive Director of the Pennsylvania Historical and Museum Commission in the name of the Commonwealth of Pennsylvania.
(f) Proceeds.--The proceeds from the conveyance under this section shall be deposited into the General Fund.
(g) Alternate disposition.--In the event that the conveyance authorized under this section is not completed within two years of the effective date of this subsection, the authority to convey the property as specified in subsection (a) shall expire, and the property may be disposed of in accordance with section 2405-A of the act of April 9, 1929 (P.L.177, No.175), known as The Administrative Code of 1929.