The following portions of air space over certain portions of
the sidewalk along the westerly line of St. James Place and the southerly
line of Pacific Avenue are as follows:
All that certain lot, tract or parcel of land and premises situate,
lying and being in the City of Atlantic City, County of Atlantic,
and State of New Jersey, bounded and described as follows:
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Beginning at a point southwesterly corner of St. James Place
(50 feet wide) and Pacific Avenue (60 feet wide), and extending from
said beginning point; thence
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(1)
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South 62° 32' 00" west, in and along the southerly line
of Pacific Avenue, a distance of 60.00 feet to a point; thence
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(2)
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North 27° 28' 00" west, parallel with St. James Place, a
distance of 2.50 feet to a point; thence
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(3)
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North 62° 32' 00" east, parallel with Pacific Avenue a distance
of 62.50 feet to a point; thence
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(4)
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South 27° 28' 00" east, parallel with St. James Place, a
distance of 122.50 feet to a point; thence
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(5)
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South 62° 32' 00" west, parallel with Pacific Avenue, a
distance of 2.50 feet to a point in the westerly line of St. James
Place; thence
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(6)
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North 27° 28' 00" west, in and along the westerly line of
St. James Place, a distance of 120.00 feet to the point and; place
of beginning.
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Being an area above the horizontal plane of the sidewalk along
the southerly line of Pacific Avenue between mean sea level elevation
+17.50 feet to mean sea level elevation 53.50 feet and above the horizontal
plane of the sidewalk along the westerly line of St. James Place between
mean sea level elevating +17.50 and 51.50 feet.
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It is contemplated that the owners will put up structures as an asset to the City of Atlantic
City on said lands herein licensed and will comply with all federal,
state and local regulations as to such plans and site approvals as
may be required by any ordinance or other law, and the owners will,
by their acceptance of this license, hold and save the City of Atlantic
City harmless from any and all costs, obligations, damage and claims.
The licenses authorized herein are subject to an agreement that
owners agree to pay for all expenses of relocating any water mains,
storm sewers, fire mains and all other utility lines which may be
required to be located on account of the within location and agree
to hold, defend and save the City of Atlantic City harmless for any
matters arising out of said relocation in the performance of utility
requirements. The said relocations and removal of utilities if applicable,
are to be subject to the approval of the City Engineer of the City
of Atlantic City.
As a condition of the within license, all expenses incurred
by the City of Atlantic City, including but not limited to advertisement,
etc., are to be paid by the owners.
The Mayor is hereby authorized to execute and the City Clerk
to attest to an appropriate instrument of conveyance setting forth
the license granted hereby, which instrument shall contain appropriate
reverter provisions providing for reversion to the city in the event
that said construction does not occur within two years, or the use
of said air space, as aforesaid, ceases at any time for a period of
two years. The form and language of the license agreement authorized
hereby shall be approved by the City Solicitor prior to its execution.
This Article is not to be construed as the establishment of
policy or precedent on the part of the City of Atlantic City as to
the vacation, selling and licensing of air rights. Every situation
dealing with real property, and especially air rights, is unique and
is to be treated individually based upon the particular circumstances
existing.
All ordinances or parts of ordinances inconsistent with the
provisions hereof be and the same are hereby repealed, and this Article
shall take effect immediately after its final passage and publication
and receipt by the owners of final site plan approvals from appropriate
municipal agencies.