Document:

nl10k08exhibit10_39.htm

    Exhibit
A

     

    Property
Description

     

    Lots 1,
1.01 and 4 in Block 257.01, and Lot 1 in Block 257.02 (Premises "A", "B" &
"E")

     

    N/F
Sayreville Economic Redevelopment Agency

     

    Borough
of Sayreville

     

    Middlesex
County, New Jersey

     

    All that
certain tract or parcel of land located in the Borough of Sayreville, County of
Middlesex, State of New Jersey, bounded and described as follows:

     

    Beginning
at a point, said point being the intersection of the northwesterly line of Lot
20.01, Block 62.02, N/F Conrail - Raritan River Railroad, Kearny Branch, with
the northeasterly line of Lot 30.11, Block 257.01, N/F Middlesex County
Utilities Authority, and from said beginning point running:

     

    
      	
              1.  

            	
              Along
      said northeasterly line of Lot 30.11, Block 257.01, and continuing along
      the northeasterly line of Lots 1.03 and 3.01, Block 257.01, N/F Middlesex
      County Utilities Authority, North 39° 18' 29" West, a distance of 638.86
      feet to a point in the southeasterly line of Lot 3.01, Block 257.01,
      thence

            

    

     

    
      	
              2.  

            	
              Along
      said southeasterly line of Lot 3.01, Block 257.01, North 29° 46' 18" East,
      a distance of 493.75 feet to a point in the northeasterly line of Lot
      3.01, Block 257.01, thence

            

    

     

    
      	
              3.  

            	
              Along
      said northeasterly line of Lot 3.01, Block 257.01, North 60° 13' 42" West,
      a distance of 65.00 feet to a point in the Pierhead/Bulkhead line as
      established by the Army Corps. of Engineers by a map entitled "Pierhead
      and Bulkhead Lines, Raritan Bay and River, N.J., Cheesequake Creek to
      Edgars Dock , dated August 1934, revised through April 1957",
      thence

            

    

     

    Along
said Pierhead/Bulkhead line as established by the Army Corps. of Engineers, the
following three (3) courses:

     

    
      	
              4.  

            	
              North
      29° 46' 18" East, a distance of 718.29 feet to a point,
    thence

            

    

     

    
      	
              5.  

            	
              North
      17° 51' 35" East, a distance of 2,000.18 feet to a point,
      thence

            

    

     

    
      	
              6.  

            	
              North
      39° 30' 18" East, a distance of 131.77 feet to a point in the westerly
      line of a riparian grant to National Lead Company from the State of New
      Jersey, Board of Commerce and Navigation, Liber N-2, Page 135 etc.,
      thence

            

    

     

    Along
said westerly and northerly line of a riparian grant to National Lead Company
from the State of New Jersey, Board of Commerce and Navigation, Liber N-2, Page
135 etc., the following two (2) courses:

     

    
      	
              7.  

            	
              North
      18° 27' 18" East, a distance of 25.78 feet to a point,
    thence

            

    

    
      	
              8.  

            	
              South
      71° 32' 42" East, a distance of 9.92 feet to a point in the aforementioned
      Pierhead/Bulkhead line as established by the Army Corps. of Engineers,
      thence

            

    

     

    
      	
              9.  

            	
              Along
      said Pierhead/Bulkhead line as established by the Army Corps. of
      Engineers, North 39° 30' 18" East, a distance of 533.50 feet to a point,
      thence

            

    

     

    
      	
              10.  

            	
              South
      64° 00' 42" East, a distance of 150.26 feet to a point in a former mean
      high • water line of the Raritan River, said lands being lands "now or
      formerly below mean high water" as mapped and claimed by the State of New
      Jersey, thence

            

    

     

    
      	
              11.  

            	
              Along
      said former mean high water line of the Raritan River, said lands being
      lands "now or formerly below mean high water" as mapped and claimed by the
      State of New Jersey, the various courses thereof, a distance of 3,253
      feet, more or less, to a point in the westerly right-of-way line of the
      New Jersey Garden State Parkway, said point being 3,052.46 feet on a
      bearing of North 57° 54' 30" East from the terminus of the prior course,
      thence

            

    

     

    Along
said westerly and northwesterly right-of-way line of the New Jersey Turnpike
Authority, Garden State Parkway, the following fourteen (14)
courses:

     

    
      	
              12.  

            	
              South
      02° 39' 35" West, a distance of 828.14 feet to a point of curvature,
      thence

            

    

     

    
      	
              13.  

            	
              In
      a general southerly direction on the arc of a curve to the right having a
      radius of 65.00 feet and an arc length of 44.47 feet, chord bearing and
      distance of South 22° 15' 36" West, 43.61 feet, to a point of tangency,
      thence

            

    

     

    
      	
              14.  

            	
              South
      41° 51' 37" West, a distance of 134.53 feet to a point of curvature,
      thence

            

    

     

    
      	
              15.  

            	
              In
      a general southerly direction on the arc of a curve to the left having a
      radius of 135.00 feet and an arc length of 160.03 feet, chord bearing and
      distance of South 07° 54' 05" West, 150.82 feet, to a point of reverse
      curvature, thence

            

    

     

    
      	
              16.  

            	
              In
      a general southerly direction on the arc of a curve to the right having a
      radius of 365.00 feet and an arc length of 154.39 feet, chord bearing and
      distance of South 13° 56' 22" East, 153.24 feet, to a point of tangency,
      thence .

            

    

     

    
      	
              17.  

            	
              South
      01° 49' 18" East, a distance of 569.54.feet to a point,
    thence

            

    

     

    
      	
              18.  

            	
              South
      05° 31' 48" East, a distance of 415.45 feet to a point,
    thence

            

    

     

    
      	
              19.  

            	
              South
      03° 52' 32" East, a distance of 301.38 feet to a point,
    thence

            

    

     

    
      	
              20.  

            	
              South
      08° 11' 22" East, a distance of 297.33 feet to a point of curvature;
      thence

            

    

     

    
      	
              21.  

            	
              In
      a general southerly direction on the arc of a curve to the right having a
      radius of 465.00 feet and an arc length of 198.15 feet, chord bearing and
      distance of South 04° 01' 06" West, 196.66 feet, to a point of tangency,
      thence

            

    

     

    
      	
              22.  

            	
              South
      16° 13' 35" West, a distance of 171.37 feet to a point,
    thence

            

    

    
      	
              23.  

            	
              South
      09° 19' 46" West, a distance of 240.48 feet to a point,
    thence

            

    

     

        24. South 14°
39' 43" West, a distance of 305.60 feet to a point, thence

     

    
      	
              25.  

            	
              South
      24° 02' 00" West, a distance of 196.24 feet to a point in the
      northeasterly right-of-way line of Chevalier Avenue, 50-foot wide
      right-of-way, thence

            

    

     

    Along
said northeasterly right-of-way line of Chevalier Avenue, the following three
(3) courses:

     

    
      	
              26.  

            	
              North
      68° 06' 10" West, a distance of 9.09 feet to a point,
    thence

            

    

     

    
      	
              27.  

            	
              North
      62° 39' 10" West, a distance of 1,399.81 feet to a point, thence
      3

            

    

     

    
      	
              28.  

            	
              North
      38° 07' 00" West, a distance of 176.85 feet to a point in southeasterly
      line of Lot 22, Block 62.02, N/F Conrail - Raritan River Railroad, Kearny
      Branch, thence

            

    

     

    Along
said southeasterly, southwesterly and northwesterly lines of Lot 22, Block
62.02, the following three (3) courses:

     

    
      	
              29.  

            	
              North
      27° 20' 51" East, a distance of 223.24 feet to a point, said point being
      witnessed by an iron pipe found 0.6-foot southwest of the herein described
      point, thence

            

    

     

    
      	
              30.  

            	
              North
      62° 38' 23" West, a distance of 50.00 feet to a point, said point being
      witnessed by a railroad spike found 0.5-foot southwest of the herein
      described point, thence

            

    

     

    
      	
              31.  

            	
              South
      27° 20' 51" West, a distance of 17.13 feet to a point in the northeasterly
      line of Lot 1.01, Block 257.02, N/F Borough of Sayreville,
      thence

            

    

     

    
      	
              32.  

            	
              Along
      said northeasterly line of Lot 1.01, Block 257.02, North 62° 39' 09" West,
      a distance of 124.99 feet to a point in the northerly terminus of
      Chevalier Avenue; thence

            

    

     

    
      	
              33.  

            	
              Along
      said northerly terminus of Chevalier Avenue, North 89° 45' 21" West, a
      distance of 56.17 feet to a point in the westerly right-of-way line of
      Chevalier Avenue, thence

            

    

     

    
      	
              34.  

            	
              Along
      said westerly right-of-way line of Chevalier Avenue, in a general
      southerly direction on the arc of a curve to the right having a radius of
      493.34 feet and an arc length of 279.12 feet, chord bearing and distance
      of South 12° 06' 04" East, 275.41 feet, to a point on the aforementioned
      northwesterly line of Lot 20, Block 62.02,
  thence

            

    

     

    
      	
              35.  

            	
              Along
      said northwesterly line of Lot 20, Block 62.02, South 27° 20' 51" West, a
      distance of 999.59 feet to a point of curvature,
  thence

            

    

     

    
      	
              36.  

            	
              In
      a general southwesterly direction on the arc of a curve to the right
      having a radius of 930.37 feet and an arc length of 379.07 feet, chord
      bearing and distance of South 39° 01' 11" West, 376.45 feet, to a point on
      the northeasterly line of Lot 30.12, Block 257.01, N/F Middlesex County
      Utilities Authority, thence

            

    

     

    
      	
              37.  

            	
              Along
      said northeasterly line of Lot 30.12, Block 257.01, North 39° .18' 19"
      West, a distance of 12.40 feet to a point in the easterly line of Lot
      30.12, Block 257.01, thence

            

    

    
      	
              38.  

            	
              Along
      said easterly line of Lot 30.12, Block 257.01, in part, and along the
      easterly line of Lot 1.10, Block 257.01, N/F Middlesex County Utilities
      Authority, North 11° 10' 21" East, a distance of 311.88 feet to a point in
      the northerly line of Lot 1.10, Block 257.01,
  thence

            

    

     

    
      	
              39.  

            	
              Along
      said northerly line of Lot 1.10, Block 257.01, North 78° 49' 39" West, a
      distance of 40.00 feet to a point in the westerly line of Lot 1.10, Block
      257.01, thence

            

    

     

    
      	
              40.  

            	
              Along
      said westerly line of Lot 1.10, Block 257.01, South 11° 10' 21" West, a
      distance of 332.70 feet to a point in the northwesterly line of Lot 30.12,
      Block 257.01, thence

            

    

     

    
      	
              41.  

            	
              Along
      said northwesterly line of Lot 30.12, Block 257.01, South 50° 41' 31"
      West, a distance of 101.14 feet to a point in the southwesterly line of
      Lot 30.12, Block 257.01, thence

            

    

     

    
      	
              42.  

            	
              Along
      said southwesterly line of Lot 30.12, Block 257.01, South 39° 18' 29"
      East, a distance of 30.00 feet to a point in the northwesterly line of Lot
      20, Block 62.02, said point being witnessed by a concrete monument found,
      thence

            

    

     

    
      	
              43.  

            	
              Along
      said northwesterly line of Lot 20, Block 62.02, and continuing along the
      northwesterly line of Lot 20.01, Block 62.02, N/F Conrail - Raritan River
      Railroad, Kearny Branch, South 50° 41' 31" West, a distance of 1,840.00
      feet to the point and place of
beginning.

            

    

     

    Said
description of Lots 1, 1.01 and 4 in Block 257.01 and Lot 1 in Block 257.02
containing 10,973,162 Square Feet or 251.909 Acres, more or less. Said described
lands being known as all of Lots 1, 1.01 and 4, Block 257.01, and Lot 1, Block
257.02, as shown on the official Tax Map of the Borough of
Sayreville.

     

    Excepting
and excluding any and all lands "now or formerly below mean high water" as
mapped and claimed by the State of New Jersey and not previously conveyed to
National Lead or a predecessor in title immediately adjacent to or through the
described parcel.

     

    Said
description of Lots 1, 1.01 and 4 in Block 257.01 and Lot 1 in Block 257.02
having been drawn in accordance with a map entitled "ALTA/ACSM Survey of Lots 1,
1.01, 4, 5, 6, Block 257.01, Lot 1, Block 257.02, Lot 1, Block 275.02, and Lot
3.04, Block 257, prepared for Sayreville Economic Redevelopment Agency, Situated
in the Borough of Sayreville, Middlesex County, New Jersey", prepared by CME.
Associates, dated October 09, 2008.

    
      
         

      

      
         

        
        

      

      
         

      

    

    Lot 5 in
Block 257.01 (Premises "C")

    N/F
Sayreville Economic Redevelopment Agency

    Borough
of Sayreville

    Middlesex
County, New Jersey

     

    All that
certain tract or parcel of land located in the Borough of Sayreville, County of
Middlesex, State of New Jersey, bounded and described as follows:

     

    Beginning
at a point, said point being the intersection of the northwesterly line of Lot
20.01, Block 62.02, lands N/F Conrail - Raritan River Railroad, Kearny Branch,
with the southwesterly line of Lot 30.11, Block 257.01, N/F Middlesex County
Utilities Authority, and from said beginning point running:

     

    Along the
aforementioned northwesterly line of Lot 20.01, Block 62.02, the following two
(2) courses:

     

    
      	
              1.  

            	
              South
      50° 41' 31" West, a distance of 183.30 feet to a point of curvature,
      thence

            

    

     

    2. In a
general southwesterly direction on the arc of a curve to the left having a
radius of 1,457.69
feet and an arc length of 382.90 feet, chord bearing and distance of South 43°
10'00" West,
381.80 feet, to a point on the northwesterly line of Lot 30.10, Block 257.01,
N/F

    Middlesex
County Utilities Authority, thence

     

    
      	
              3.  

            	
              Along
      said northwesterly line of Lot 30.10, Block 257.01, and continuing along
      the northwesterly line of Lot 1.07, Block 257.01, N/F Middlesex County
      Utilities Authority, along a non-tangent line, South 50° 41' 31" West, a
      distance of 448.83 feet to a point of curvature,
  thence

            

    

     

    Along the
aforementioned northwesterly and westerly lines of Lot 1.07, Block 257.01, the
following two (2) courses:

     

    
      	
              4.  

            	
              In
      a general southwesterly direction on the arc of a curve to the left having
      a radius of 286.52 feet and an arc length of 180.03 feet, chord bearing
      and distance of South 32° 41' 31" West, 177.08 feet, to a point of
      tangency, thence

            

    

     

    
      	
              5.  

            	
              South
      14° 41' 31" West, a distance of 171.76 feet to a point in the
      northeasterly line of Lot 3.01, Block 256, N/F Sayreville Economic
      Redevelopment Agency, thence

            

    

     

    Along
said northeasterly line of Lot 3.01, Block 256, the following two (2)
courses:

     

    
      	
              6.  

            	
              North
      65° 23' 04" West, a distance of 52.98 feet to a point,
    thence

            

    

     

    
      	
              7.  

            	
              North
      54° 04' 00" West, a distance of 385.91 feet to a point in the "Pierhead
      and Bulkhead Line" as established by the Army Corps. of Engineers on a map
      entitled "Pierhead and Bulkhead Lines, Raritan Bay and River, N.J.,
      Cheesequake Creek to Edgars Dock", dated August 1934,
    thence

            

    

    Along
said "Pierhead and Bulkhead Line" as established by the Army Corps. of
Engineers, the following two (2) courses:

     

    
      	
              8.  

            	
              North
      35° 44' 18" East, a distance of 786.54 feet to a point,
    thence

            

    

     

    
      	
              9.  

            	
              North
      29° 46' 18" East, a distance of 436.24 feet to a point in the
      southwesterly line of Lot 3.01, Block 257.01, N/F Middlesex County
      Utilities Authority, thence

            

    

     

    Along
said southwesterly and southeasterly lines of Lot 3.01, Block 257.01, and the
following two (2) courses:

     

    
      	
              10.  

            	
              South
      60° 13' 42" East, .a distance of 50.00 feet to a point,
    thence

            

    

     

    
      	
              11.  

            	
              North
      29° 46' 18" East, a distance of 272.31 feet to a point in the
      aforementioned southwesterly line of Lot 3.01, Block 257.01,
      thence

            

    

     

    
      	
              12.  

            	
              Along
      said southwesterly line of Lots 3.01, 1.03 and 30.11, Block 257.01, N/F
      Middlesex County Utilities Authority, South 39° 18' 29" East, a distance
      of 624.34 feet to the point and place of beginning, said point being
      witnessed by an iron rebar found 4.1' southwest of the herein described
      point.

            

    

     

    Said
description of Lot 5 in Block 257.01 containing 661,978 Square Feet or 15.197
Acres, more or less. Said described lands being known as all of Lot 5, Block
257.01, as shown on the official Tax Map of the Borough of
Sayreville.

     

    Excepting
and excluding any and all lands "now or formerly below mean high water" as
mapped and claimed by the State of New Jersey and not previously conveyed to
National Lead or a predecessor in title immediately adjacent to or through the
described parcel.

     

    Said
description of Lot 5 in Block 257.01 having been drawn in accordance with a map
entitled "ALTA/ACSM Survey of Lots 1, 1.01, 4, 5, 6, Block 257.01, Lot 1, Block
257.02, Lot 1, Block 275.02, and Lot 3.04, Block 257, prepared for Sayreville
Economic Redevelopment Agency, Situated in the Borough of Sayreville, Middlesex
County, New Jersey", prepared by CME Associates, dated October 09,
2008.

    
      
         

      

      
         

      

      
         

      

    

    Lot 1 in
Block 275.02 (Premises "F")

    N/F
Sayreville Economic Redevelopment Agency

    Borough
of Sayreville

    Middlesex
County, New Jersey

     

    All that
certain tract or parcel of land located in the Borough of Sayreville, County of
Middlesex, State of New Jersey, bounded and described as follows:

     

    Beginning
at a point, said point being the intersection of the easterly line of Lot 2,
Block 275.02, N/F New Jersey Turnpike Authority, with the northeasterly
right-of-way line of Chevalier Avenue, 50-foot wide right-of-way, and from said
beginning point running:

     

    
      	
              1.  

            	
              Along
      the aforementioned easterly line of Lot 2, Block 275.02, North 18° 41' 11"
      East, a distance of 200.00 feet to a point, said point being.witnessed by
      a concrete .monument found 2.4-feet east of the herein described point,
      thence

            

    

     

    Along the
lands N/F New Jersey State Turnpike Authority, Garden State Parkway, the
following two (2) courses:

     

    
      	
              2.  

            	
              South
      71° 18' 49" East, a. distance of 350.00 feet to a point,
      thence

            

    

     

    
      	
              3.  

            	
              South
      18° 41' 11" West, a distance of 172.00 feet to a point in the northerly
      right-of-way line of Chevalier Avenue,
thence

            

    

     

    
      	
              4.  

            	
              Along
      said northerly right-of-way line of Chevalier Avenue, in a general
      westerly direction on the arc of a curve to the right having a radius of
      534.22 feet and an arc length of 227.14 feet, chord bearing and distance
      of North 80° 17' 00" West, 225.44 feet, to a point of tangency,
      thence

            

    

     

    
      	
              5.  

            	
              North
      68° 06' 10" West, a distance of 127.52 feet to the point and place of
      beginning.

            

    

     

    Said
description of Lot 1 in Block 275.02 containing 69,944 Square Feet or 1.606
Acres, more or less. Said described lands being known as all of Lot 1, Block
275.02, as shown on the official Tax Map of the Borough of
Sayreville.

     

    Said
description of Lot 1 in Block 275.02 having been drawn in accordance with
certain map entitled "ALTA/ACSM Survey of Lots 1, 1.01, 4, 5, 6, Block 257.01,
Lot 1, Block 257.02, Lot 1, Block 275.02, and Lot 3.04, Block 257, prepared for
Sayreville Economic Redevelopment Agency, Situated in the Borough of Sayreville,
Middlesex County, New Jersey", prepared by CME Associates, dated October 09,
2008

    
      
         

      

      
         

        
        

      

      
         

      

    

    Lot 6 in
Block 257.01 (Premises "D")

    N/F
Sayreville Economic Redevelopment Agency

    Borough
of Sayreville

    Middlesex
County, New Jersey

     

    All that
certain tract or parcel of land located in the Borough of Sayreville, County of
Middlesex, State of New Jersey, bounded and described as follows:

     

    Beginning
at a point, said point being the intersection of the westerly line of Lot 20.01,
Block 62.02, lands N/F Conrail Raritan River Railroad - Kearny Branch, with the
northerly line of Lot 3, Block 256, N/F Sayreville Economic Redevelopment
Agency, and from said beginning point running:

     

    
      	
              1.  

            	
              Along
      the aforementioned northerly line of Lot 3, Block 256; South 71° 36' 56"
      West, a distance. of 54.81 feet to a point in the northeasterly line of
      Lot 3.01, Block 25.6, N/F. Sayreville Economic Redevelopment Agency, said
      point being witnessed by a • concrete monument found 0.4-foot southeast of
      the herein described point, thence

            

    

     

    
      	
              2.  

            	
              Along
      the aforementioned northeasterly line of Lot 3.01, Block 256, North 65°
      23' 04" West, a distance of 89.38 feet to a point in the easterly line of
      Lot 1.07, Block 257.01, N/F Middlesex County Utilities Authority,
      thence

            

    

     

    Along
said easterly and southeasterly lines of Lot 1.07, Block 257.01, the following
two (2) courses:

     

    
      	
              3.  

            	
              North
      14° 41' 31" East, a distance of 189.25 feet to a point of curvature,
      thence

            

    

     

    
      	
              4.  

            	
              In
      a general northeasterly direction on the arc of a curve to the right
      having a radius of 186.52 feet and an arc length of 117.19 feet, chord
      bearing and distance of North 32° 41' 31" East, 115.28 feet, to a point of
      tangency, thence

            

    

     

    
      	
              5.  

            	
              Continuing
      along the southeasterly line of Lot 1.07, Block 257.01, in part, and along
      the southeasterly line of Lot 30.10, Block 257.01, N/F Middlesex County
      Utilities Authority, North 50° 41' 31" East, a distance of 183.28 feet to
      a point in the aforementioned westerly line of Lot 20.01, Block 62.02,
      thence

            

    

     

    
      	
              6.  

            	
              Along
      said westerly line of Lot 20.01, Block 62.02, in a general southerly
      direction on lthe arc of a curve to the left having a radius of 1,457.69
      feet and an arc length of 434.36 feet, chord bearing and distance of South
      15° 56' 04" West, 432.76 feet, to the point and place of
      beginning.

            

    

     

    Said
description of Lot 6 in Block 257.01 containing 43,454 Square Feet or 0.998
Acre, more or less. Said described lands being known as all of Lot 6, Block
257.01, as shown on the official Tax Map of the Borough of
Sayreville.

     

    Said
description of Lot 6 in Block 257.01 having been drawn in accordance with a map
entitled "ALTAIACSM Survey of Lots 1, 1.01, 4, 5, 6, Block 257.01, Lot 1, Block
257.02, Lot 1, Block 275.02, and Lot 3.04, Block 257, prepared for Sayreville
Economic Redevelopment Agency,. Situated
in the Borough of Sayreville, Middlesex County, New Jersey", prepared by CME
Associates, dated October 09, 2008

    
      
         

      

      
         

        
        

      

      
         

      

    

    Lot 3.04
in Block 257 (Premises "G")

    N/F
Sayreville Economic Redevelopment Agency

    Borough
of Sayreville

    Middlesex
County, New Jersey

     

    All that
certain tract or parcel of land located in the Borough of Sayreville, County of
Middlesex, State of New Jersey, bounded and described as follows:

     

    Beginning
at a point, said point being the intersection of the southwesterly line of Lot
3.06, Block 257, with the westerly right-of-way line of a 25-foot wide
Right-of-Way, now known as part of Main Street, and from said beginning point
running:

     

    
      	
              1.  

            	
              Along
      said westerly right-of-way line of a 25-foot wide right-of-way, now known
      as part of Main Street, South 18° 41' 11" West, a distance of 529.65 feet
      to a point in the northerly line of Lot 1.04, Block 257, N/F Middlesex
      County Utilities Authority, said point being witnessed by a. capped iron
      bar found 2.8-feet east of the herein described point,
    thence

            

    

     

    
      	
              2.  

            	
              Along
      said northerly line of Lot 1.04, Block 257, South 71° 36' 56" West, a
      distance of 124.61 feet to a point in the northeasterly line of Lot 3.05,
      Block 257, N/F Middlesex County Utilities Authority, said point being
      witnessed by a concrete monument found,
thence

            

    

     

    Along the
northeasterly lines of Lot 3.05, Block 257, and the following three (3)
courses:

     

    
      	
              3.  

            	
              North
      57° 01' 45" West, a distance of 469.74 feet to a point, said point being
      witnessed by a concrete monument found 0.2-foot northwest of the herein
      described point, thence

            

    

     

    
      	
              4.  

            	
              North
      39° 16' 58" West, a distance of 1,293.20 feet to a point,
      thence

            

    

     

    
      	
              5.  

            	
              North
      62° 39' 09" West, a distance of 100.00 feet to a point in the
      southeasterly right-of-way line of the Conrail - Raritan River Railroad,
      Kearny Branch, Lot 20, Block 62.02,
thence

            

    

     

    
      	
              6.  

            	
              Along
      said southeasterly right-of-way line of the Conrail - Raritan River
      Railroad, Kearny Branch, Lot 20, Block 62.02, North 27° 20' 51" East, a
      distance of 976.76 feet to a point in the southwesterly right-of-way line
      of Chevalier Avenue, thence

            

    

     

    Along
said southwesterly right-of-way line of Chevalier Avenue, the following two (2)
courses:

     

    
      	
              7.  

            	
              South
      38° 07' 00" East, a distance of 164.90 feet to a point, said point being
      witnessed by a concrete monument found 0.9-foot west of the herein
      described point, thence

            

    

     

    
      	
              8.  

            	
              South
      62° 39' 10" East, a distance of 833.24 feet to a point in the
      northwesterly line of Lot 3.06, Block 257, N/F Faith Fellowship
      Ministries, Inc., thence

            

    

     

    
      	
              9.  

            	
              Along
      said northwesterly line of Lot 3.06, Block 257, N/F Faith Fellowship
      Ministries, Inc., South 27° 20' 52" West, a distance of 854.43 feet to a
      point in the. southwesterly line of Lot 3.06, Block 257,
      thence

            

    

    
      	
               
      

            	
              10.
      Along said southwesterly line of Lot 3.06, Block 257, South 62° 39' 09"
      East, a distance of 778.56 feet to the point and place of
      beginning.

            

    

     

    Said
description of Lot 3.04 in Block 257 containing 1,523,314 Square Feet or 34.970
Acres, more or less. Said described lands being known as all of Lot 3.04, Block
257, as shown on the official Tax Map of the Borough of Sayreville.

     

    Said
description of Lot 3.04 in Block 257 having been drawn in accordance with
certain map entitled "ALTA/ACSM Survey of Lots 1, 1.01, 4, 5, 6, Block 257.01,
Lot 1, Block 257.02, Lot 1, Block 275.02, and Lot 3.04, Block 257, prepared for
Sayreville Economic Redevelopment Agency, Situated in the Borough of Sayreville,
Middlesex County, New Jersey", prepared by CME Associates, dated October 09,
2008.

    
      
         

      

      
         

        
        

      

      
         

      

    

    Exhibit
B

     

    Power
of Attorney (attached)

    
      
         

      

      
         

        
        

      

      
         

      

    

    NL
ENVIRONMENTAL MANAGEMENT SERVICES, INC. POWER OF ATTORNEY

     

    KNOW ALL
MEN BY THESE PRESENTS, that NL ENVIRONMENTAL MANAGEMENT SERVICES, INC., a New
Jersey corporation with an address of 5430 LBJ Freeway, Suite 1700, Dallas, TX
75240, hereby makes, constitutes and appoints BANK OF AMERICA, N.A., its true
and lawful attorney, for itself and in its name, place and stead, to take any
and all such acts and/or actions as NL ENVIRONMENTAL MANAGEMENT SERVICES, INC.,
can, may or is entitled to take for and with respect to (i) that certain
Promissory Note dated October /5,
2008 from Sayreville Seaport Associates, L.P., a Delaware limited partnership
("Borrower") to NL ENVIRONMENTAL MANAGEMENT SERVICES, INC. and NL Industries,
Inc., in the original principal sum of $15,000,000.00 (the "Note") and (ii) that
certain Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing
dated October /5,
2008 from Borrower to NT, ENVIRONMENTAL MANAGEMENT SERVICES, INC. and NL
Industries, Inc., securing the Note and encumbering a certain leasehold interest
in certain property located in the Borough of Sayreville, Middlesex County and
State of New Jersey, which leasehold interest may become a fee interest mortgage
as provided for therein (the "Mortgage"), including, without limitation, to
execute and deliver any modification, extension of maturity for one (1) year,
release, discharge, assignment or endorsement of the same and/or to enforce,
ask, demand, sue for, collect and receive all sums of money, interest and other
payments due under or pursuant to the Note and/or Mortgage, as BANK OF AMERICA,
N.A., in its sole and absolute discretion, shall deem appropriate; to foreclose
the Mortgage and to take title to property in the name of NL

     

    ENVIRONMENTAL
MANAGEMENT SERVICES, INC., if BANK OF AMERICA, N.A. thinks proper; to place and
effect insurance with respect to the property encumbered by the Mortgage; to
retain counsel and attorneys on behalf of NL ENVIRONMENTAL MANAGEMENT SERVICES,
INC., to appear for NL ENVIRONMENTAL MANAGEMENT SERVICES, INC. in all actions
and proceedings to which NL ENVIRONMENTAL MANAGEMENT SERVICES, INC. may be a
party in the courts of New Jersey or any other State in the United States, or in
the United States courts, to commence actions and proceedings in the name of NL
ENVIRONMENTAL MANAGEMENT SERVICES, INC. if necessary, to sign and verify in its
name all complaints, petitions, answers and other pleadings of every
description; hereby giving and granting to it, the said attorney, BANK OF
AMERICA, N.A., full power and authority to do and perform all and every act and
anything whatsoever necessary to be done in the
premises, as fully to all intents and purposes as NL ENVIRONMENTAL MANAGEMENT
SERVICES, INC. might or could do if personally present, with full power of
substitution and revocation, hereby ratifying and confirming all that the said
attorney may do pursuant to this power.

     

    This
Power of Attorney is being given pursuant to the terms of that certain
Intercreditor, Subordination and Standstill Agreement by and between Bank of
America, N.A., as Administrative Agent for itself and on behalf of the other
"Banks" (as defined therein) and NL ENVIRONMENTAL MANAGEMENT SERVICES, INC. and
NL/Industries,
Inc. dated October 16, 2008 (the "Intercreditor Agreement").

     

    This
Power of Attorney shall terminate upon repayment in full of the "Bank Loan" or
the "NL Loan", whichever comes first (as those terms are defined in the
Intercreditor Agreement).

     

    IN
WITNESS WHEREOF, 1\11, ENVIRONMENTAL MANAGEMENT SERVICES, INC., has hereunto set
its hand and seal this 13th
day of October, 2008.

     

    ATTEST: NL
ENVIRONMENTAL MANAGEMENT SERVICES, INC.

     

      BY:                                       /4/14.1., BY:

    Name. A.
drew R. Louis Name: Robert D. Graham

     

    Title:
Associate General Counsel Title: President

    STATE OF
TEXAS

                   SS.

     

    COUNTY OF
DALLAS

     

    BE IT
REMEMBERED, that on this 13th
day of October, 2008, before me the subscriber, Amanda K. Beer, duly authorized
by law to take acknowledgments and proofs of deeds therein, personally appeared,
Robert D. Graham, who acknowledged himself/herself to be the President of NL
ENVIRONMENTAL MANAGEMENT SERVICES, INC., and who I am satisfied is the person
mentioned in and having executed the Instrument to which this certificate is
attached as the President and for and on behalf of NL ENVIRONMENTAL MANAGEMENT
SERVICES, INC., and to whom I first made known the contents thereof, and
thereupon such person acknowledged that he/she signed, sealed, and delivered the
same as the voluntary act and deed ofNL ENVIRONMENTAL MANAGEMENT SERVICES, INC.,
for the uses and purposes therein expressed.

     

    [Notary
Page - Power of Attorney]                       

    
      
         

      

      
         

        
        

      

       NL
INDUSTRIES, INC. POWER OF ATTORNEY

    

     

    KNOW ALL
MEN BY THESE PRESENTS, that NL
INDUSTRIES, INC., a New Jersey corporation with an address of 5430 LBJ
Freeway, Suite 1700, Dallas, TX 75240, hereby makes, constitutes and appoints
BANK. OF AMERICA, N.A., its true and lawful attorney, for itself and in its
name, place and stead, to take any and all such acts and/or actions as NL
INDUSTRIES, INC., can, may or is entitled to take for and with respect to (i)
that certain Promissory Note dated October /
5 , 2008 from Sayreville Seaport Associates, L.P., a Delaware limited
partnership ("Borrower") to NL INDUSTRIES, INC. and NL Environmental Management
Services, Inc., in the original principal sum of $15,000,000.00 (the "Note") and
(ii) that certain Leasehold Mortgage, Assignment, Security Agreement and Fixture
Filing dated October /5-,
2008 from Borrower to NL INDUSTRIES, INC. and NL Environmental Management
Services, Inc., securing the Note and encumbering a certain leasehold interest
in certain property located in the Borough of Sayreville, Middlesex County and
State of New Jersey, which leasehold interest may become a fee interest mortgage
as provided for therein (the "Mortgage"), including, without limitation, to
execute and deliver any modification, extension of maturity for one (1) year,
release, discharge, assignment or endorsement of the same and/or to
enforce,
ask, demand, sue for, collect and receive all sums of money, interest and other
payments due under or pursuant to the Note and/or Mortgage, as BANK OF AMERICA,
N.A., in its sole and absolute discretion, shall deem appropriate; to foreclose
the Mortgage and to take title to property in the name of NL INDUSTRIES, INC.,
if BANK OF AMERICA, N.A. thinks proper; to place and effect insurance with
respect to the property encumbered by the Mortgage; to retain counsel and
attorneys on behalf of NL INDUSTRIES, INC., to appear for NL INDUSTRIES,
INC. in
all actions and proceedings to which NL INDUSTRIES, INC. may be a party in the
courts of New Jersey or any other State in the United States, or in the United
States courts, to commence actions and proceedings in the name of NI,
INDUSTRIES, INC. if necessary, to sign and verify in its name all complaints,
petitions, answers and other pleadings of every description; hereby giving and
granting to it, the said attorney, BANK. OF AMERICA, N.A., full power and
authority to do and perform all and every act and anything whatsoever necessary
to be done in the premises, as fully to all intents and purposes as NL
INDUSTRIES, INC. might or could do if personally present, with full power of
substitution and revocation, hereby ratifying and confirming all that the said
attorney may do pursuant to this power.

     

    This
Power of Attorney is being given pursuant to the terms of that certain
Intercreditor, Subordination and Standstill Agreement by and between Bank of
America, N.A., as Administrative Agent for itself and on behalf of the other
"Banks" (as defined therein) and NL/INDUSTRIES,
INC. and NL Environmental Management Services, Inc. dated October J, 2008 (the
"Intercreditor Agreement"). This Power of Attorney shall terminate upon
repayment in full of the "Bank Loan" or the "NL Loan", whichever comes first (as
those teuns are defined in the Intercreditor Agreement).

     

    IN
WITNESS WHEREOF, NL INDUSTRIES, INC., has hereunto set its hand and seal this
13th
day of October, 2008.

     

    ATTEST: NL
INDUSTRIES, INC.

     

    BY:

     

    Name: A.
Andrew R. Louis Name: Robert D. Graham

     

    Title:
Associate General Counsel Title: Vice President & General
Counsel

    STATE OF
TEXAS

     

    SS.

     

    COUNTY OF
DALLAS

     

    BE IT
REMEMBERED, that on this 13th
day of October, 2008, before me the subscriber, Amanda K. Beer, duly authorized
by law to take acknowledgments and proofs of deeds therein, personally appeared,
Robert D. Graham, who acknowledged himself/herself to be the Vice President
& General Counsel of NL Industries, Inc., and who I am satisfied is the
person mentioned in and having executed the Instrument to which this certificate
is attached as the Vice President & General Counsel and for and on behalf of
NL Industries, Inc., and to whom I first made known the contents thereof, and
thereupon such person acknowledged that he/she signed, sealed, and delivered the
same as the voluntary act and deed of NL Industries, Inc., for the uses and
purposes therein expressed.

     

    [Notary
Page - Power of Attorney]nl10k08exhibit10_40.htm

    EXHIBIT
A

    LEGAL
DESCRIPTION

     

     

     

    Includes meets and bounds legal description of
property parcels C performed by CME Associates dated December 12, 2007.

     

     

    

      
        
           

        

        
           

          
          

        

        
           

        

      

      Exhibit
"B"

       

      Compliance
Certificate

       

      To:The
Lender who is party to the Multi-Party Agreement.

       

      This
Compliance Certificate is furnished pursuant to the Multi-Party Agreement dated
as of , 2008 (as amended, modified, renewed or extended from time to time, the
"Agreement") among The Prudential Insurance Company of America ("Prudential"),
acting solely on behalf of and for the benefit of PRISA II ("PRISA II"),
SAYREVILLE PRISA II, LLC, a Delaware limited liability company, NL INDUSTRIES,
INC., NL ENVIRONMENTAL MANAGEMENT SERVICES, INC., SAYREVILLE SEAPORT ASSOCIATES,
L.P., a Delaware limited partnership ("Borrower"); SAYREVILLE SEAPORT ASSOCIATES
ACQUISITION COMPANY, LLC, a Delaware limited liability company and general
partner of the Borrower (the "General Partner"); OPG PARTICIPATION, LLC, a
Pennsylvania limited liability company and limited partner of the Borrower
("OPG"); and J. BRIAN ONEILL. Unless otherwise defined herein, capitalized terms
used in this Compliance Certificate have the meanings ascribed thereto in the
Agreement.

       

      THE
UNDERSIGNED HEREBY CERTIFIES THAT:

       

      1. The
individual signing this certificate is a senior executive of the PRISA
II

       

      account.

       

      2. Such
individual has reviewed the terms of the Agreement and has made, or
has

       

      caused to
be made under his or her supervision, a detailed review of the transactions and
conditions of PRISA II and its Consolidated Entities during the accounting
period covered by the attached financial statements.

       

      3. The
examinations described in paragraph 2 did not disclose, and Prudential has
no

       

      knowledge
of, the existence of any condition or event which constitutes an event which
would permit Lender to require payment to it of the Loan Pay-off Capital
Contribution pursuant to Section 2(a) of the Agreement during or at the end of
the accounting period covered by the attached financial statements or as of the
date of this Certificate.

       

      CONTINUED
ON FOLLOWING PAGE

      
        
           

        

        
           

          
          

        

        
           

        

      

      4.Schedule
I attached hereto sets forth financial data and computations
evidencing

      PRISA
II's compliance with certain covenants of the Agreement, all of which data and
computations are true, complete and correct.

       

      The
foregoing certifications, together with the computations set forth in Schedule I
hereto and the financial statements delivered with this Certificate in support
hereof, are made and delivered this day of , 200_.

       

      THE
PRUDENTIAL INSURANCE COMPANY OF AMERICA, an insurance company organized under
the laws of the State of New Jersey, acting solely on behalf of and for the
benefit of, and with its liability limited to the assets of, its insurance
company separate account, PRISA II (except as expressly provided in Section 18
of the Agreement)

       

      By:                                                                     

      Name:

       

      Title:

      
        
           

        

        
           

          
          

        

        
           

        

      

      Schedule I To Compliance
Certificate

       

      19.1 Net
Asset Value. PRISA II will at all times maintain a minimum value of Net Assets
of $1,500,000,000.

       

      Show
computation:

       

      6.2Coverage Ratio. PRISA II and its
Consolidated Entities on a consolidated basis,

      shall
not, as of any date, permit Total Outstanding Indebtedness to exceed forty
percent (40%) of Adjusted Total Assets.

       

      Show
computation:

       

      6.3Fixed Charge Coverage. PRISA II
and its Consolidated Entities on a consolidated

      basis,
shall not, as of any date, permit the ratio of Net Investment Income plus
Interest Expense plus all ground lease rental expense included in Fixed Charges
for the most recent four prior fiscal quarters to Fixed Charges for such period
to be less than 2.5 to 1.

       

      Show
computation:

      
        
           

        

        
           

          
          

        

        
           

        

      

      Exhibit
"C"

      Definitions

       

      "Adjusted
Total Assets" means Total Assets, plus the Consolidated Group Pro Rata
Liquidation Share of all Indebtedness of Non-Consolidated Entities.

       

      "Agreement
Accounting Principles" means generally accepted accounting principles in
the United States of America as in effect from time to time, applied in a manner
consistent with that used in preparing the PRISA II's prior financial
statements.

       

      "Assets
Under Development" means, as of any date of determination, all Projects
and expansion areas of existing Projects owned by the Consolidated Group for
which a certificate of occupancy has not been issued, upon which income
producing improvements are under construction, and upon which construction is
progressing with diligence in accordance with a reasonable, industry standard
construction schedule.

       

      "Capitalized
Lease" of a Person means any lease of Projects imposing obligations on
such Person, as lessee thereunder, which are required in accordance with
Agreement Accounting Principles to be capitalized on a balance sheet of such
Person.

       

      "Capitalized
Lease Obligations" of a Person means the amount of the obligations of
such Person under Capitalized Leases which would be shown as a liability on a
balance sheet of such Person prepared in accordance with Agreement Accounting
Principles.

       

      "Consolidated
Entity" means an entity which is consolidated with PRISA II in accordance
with Agreement Accounting Principles.

       

      "Consolidated
Group" means the PRISA II and all Consolidated Entities.

       

      "Consolidated
Group Pro Rata Income Share" means, at any time, with respect to any
Non-Consolidated Entity, the percentage of a distribution of income of such
Non-Consolidated Entity that would be received by the Consolidated Group in the
aggregate at such time, upon such distribution of income of such
Non-Consolidated Entity, taking into account preferred and priority
returns.

       

      "Consolidated
Group Pro Rata Liquidation Share" means, with respect to any
Non-Consolidated Entity, the percentage of the total market value of such
Non-Consolidated Entity that would be received by the Consolidated Group in the
aggregate, upon liquidation of such Non-Consolidated Entity after repayment in
full of all Indebtedness of such Non-Consolidated Entity.

       

      "Contract
Holder" means a person which has made an investment in PRISA II pursuant
to a separate account agreement.  "Debt
Service" means, for any period, Interest Expense for such period, plus
scheduled principal
amortization payments (excluding balloon payments) on the Total
Outstanding

      Indebtedness
during such period, provided that if Total Outstanding Indebtedness includes
less than 100% of the amount of any item of Indebtedness, only the corresponding
percentage of the scheduled principal amortization payments on such Indebtedness
will be included in Debt Service.

       

      "Fixed Charges" means, for any period, Debt Service for such period,
plus all ground lease rental expense of the Consolidated Group accruing during
such period, plus the Consolidated Group Pro Rata Income Share of all ground
lease rental expense for Non-Consolidated Entities accruing during such
period.

       

      "Guarantee Obligation" means, as to
any Person (the "guaranteeing person"), any obligation (determined without
duplication) of (a) the guaranteeing person or (b) another Person (including,
without limitation, any bank under any letter of credit) to induce the creation
of which the guaranteeing person has issued a reimbursement, counter-indemnity
or similar obligation, in either case guaranteeing or in effect guaranteeing any
Indebtedness, leases, dividends or other obligations (the "primary obligations")
of any other third Person (the "primary obligor") in any manner, whether
directly or indirectly, including, without limitation, any obligation of the
guaranteeing person, whether or not contingent, (i) to purchase any such primary
obligation or any property constituting direct or indirect security therefor,
(ii) to advance or supply funds (1) for the purchase or payment of any such
primary obligation or (2) to maintain working capital or equity capital of the
primary obligor or otherwise to maintain the net worth or solvency of the
primary obligor, (iii) to purchase property, securities or services primarily
for the purpose of assuring the owner of any such primary obligation of the
ability of the primary obligor to make payment of such primary obligation (but
excluding future commitments to purchase assets, but not indebtedness or other
liabilities, for the fair market value of such assets as projected by such
Person in good faith as of the date of the applicable commitment to purchase) or
(iv) otherwise to assure or hold harmless the owner of any such primary
obligation against loss in respect thereof; provided, however, that the term
Guarantee Obligation shall not include (A) endorsements of instruments for
deposit or guarantees of collection in the ordinary course of business or (B)
any obligations that do not exceed $100,000 to the extent the aggregate of such
obligations does not exceed $250,000. The amount of any Guarantee Obligation of
any guaranteeing person shall be deemed to be the maximum stated amount of the
primary obligation relating to such Guarantee Obligation (or, if less, the
maximum stated liability set forth in the instrument embodying such Guarantee
Obligation), provided, that in the absence of any such stated amount or stated
liability, the amount of such Guarantee Obligation shall be such guaranteeing
person's maximum reasonably anticipated liability in respect thereof as
determined by the PRISA II in good faith.

       

      "Improper
Distributions" means any payments or distributions of any kind
whatsoever (whether of cash or property) to or for the benefit of the Contract
Holders or any other beneficiary of PRISA II at any time (a) when the
Administrative Agent shall have given, notice to Prudential that payment is to
be made to it pursuant to Section 2(a), or (b) when, based on the last
compliance certificate delivered under Section 19.5(iii), PRISA II is not in
full compliance with all financial covenants set forth in Sections 19.1, 19.2
and 19.3, or (c) when the making of such payment or distribution would cause
PRISA II to fail to be in full compliance with any of such financial covenants;
provided, however, if the event or condition which causes a payment or
distribution to constitute an Improper Distribution hereunder is subsequently
cured by PRISA II to the
satisfaction of Administrative Agent from and after the acceptance of such cure,
such payment or distribution shall no longer be deemed to have been an Improper
Distribution.

       

      "Indebtedness" of any Person at any
date means without duplication, (a) all indebtedness of such Person for borrowed
money, (b) all obligations of such Person for the deferred purchase price of
property or services (other than current trade liabilities incurred in the
ordinary course of business and payable in accordance with customary practices),
to the extent such obligations constitute indebtedness for the purposes of
Agreement Accounting Principles, (c) any other indebtedness of such Person which
is evidenced by a note, bond, debenture or similar instrument, (d) all
Capitalized Lease Obligations, (e) all obligations of such Person in respect of
acceptances issued or created for the account of such Person, (f) all Guarantee
Obligations of such Person (excluding in any calculation of consolidated
indebtedness of the PRISA II, Guarantee Obligations of the PRISA II in respect
of primary obligations of any Consolidated Entity), (g) all reimbursement
obligations of such Person for letters of credit, currency swap agreements,
interest rate swaps or other interest rate management products, valued at the
amount that would be payable by such Person on account thereof if its
obligations thereunder were liquidated on such date, (h) all liabilities secured
by any lien (other than liens for taxes not yet due and payable) on any property
owned by such Person even though such Person has not assumed or otherwise become
liable for the payment thereof, (i) any repurchase obligation or liability of
such Person or any of its Consolidated Entities with respect to accounts or
notes receivable sold by such Person or any of its Consolidated Entities, (j)
any other transaction which is the functional equivalent of or takes the place
of borrowing but which does not constitute a liability on the consolidated
balance sheet of such Person (but excluding future commitments to purchase
assets, but not indebtedness or other liabilities, for the fair market value of
such assets as property by such Person in good faith as of the date of the
applicable commitment to purchase) and (k) any loans where such Person is liable
as a general partner.

       

      "Interest
Expense" means, for any period, all interest expense of the PRISA II and
its Consolidated Entities determined in accordance with Agreement Accounting
Principles for such period plus (i) capitalized interest accrued during such
period with respect to Assets Under Development to the extent not funded from
the proceeds of loans secured by such Assets Under Development and (ii) that
portion of any accrued, or unpaid interest incurred during such period on any
Indebtedness for which the PRISA II is wholly or partially liable under
repayment, interest carry, or performance guarantees, provided that no expense
shall be included more than once in such calculation even if it falls within
more than one of the foregoing categories.

       

      "Net
Assets" means the amount reported as "Net Assets, Representing Equity of
Contract-Holders" in the PRISA II's financial statements from time to time in
accordance with Agreement Accounting
Principles.

       

      "Net Investment Income" means
the amount reported as such in the PRISA II's financial statements for the
Consolidated Group before deduction of any minority interests therein from time
to time in accordance with Agreement Accounting Principles.

       

      "Non-Consolidated Entity" means any
Person in which the Consolidated Group, directly or indirectly,
holds ten percent (10%) or more of such Person's total ownership interests but
which does not
qualify as a Consolidated Entity.

       

      "Over
10% Contract Holder" means as of any date, a Contract Holder which holds
an investment in PRISA II in an amount which (when added to the holdings of any
other Plans maintained by the same employer or employee organization) would
exceed 10% of the total of all assets in PRISA II, as determined in accordance
with Section I(a)(1) of PTE 90-1. As of the date hereof the only Over 10%
Contract Holder is the one listed on Exhibit C-1 hereto.

       

      "Plan"
means an employer pension benefit plan which is covered by Title IV of
ERISA or subject to the minimum funding standards under Section 412 of the
Code.

       

      "Premises"
shall mean the "Premises" defined in Recital (A) of the Multi-Party
Agreement to which is this Exhibit C is attached.

       

      "Premises
of a Person" means any and all Premises, whether real, personal,
tangible, intangible, or mixed, of such Person, or other assets owned, leased or
operated by such Person.

       

      "Total
Assets" as of any particular time, means the value (determined applying
the same methodology used in preparing the PRISA II's 2004 year-end audited
financial statements, with any subsequent changes in such methodology which
would affect the calculation of the financial covenants contained herein being
approved by the Lenders, such approval not to be unreasonably withheld or
delayed) of all assets (as reported in the PRISA II's financial statements for
the Consolidated Group) of the Consolidated Group.

       

      "Total
Outstanding Indebtedness" means, as of any date of determination, all
Indebtedness of PRISA II and its Consolidated Entities outstanding at such date,
determined on a consolidated basis in accordance with Agreement Accounting
Principles, plus the Consolidated Group Pro Rata Liquidation Share of all
Indebtedness of Non-Consolidated Entities.

      
        
           

        

        
           

          
          

        

        
           

        

      

      EXHIBIT
C-1

      Over 10%
Contract Holders

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]