Document:

exv10w19

Exhibit 10.19

AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

THIS AMENDMENT dated as of September 26, 2008, by and between INTERSTATE HOTELS & RESORTS, INC., a
Delaware corporation ((the “Company”), INTERSTATE MANAGEMENT COMPANY, L.L.C., a Delaware limited
liability company (the “LLC”) and any successor employer, and Leslie Ng (the “Executive”), an
individual residing at                           , to that Employment
Agreement dated September 26, 2005 (“Original Agreement”).

     WHEREAS the Company and the LLC desire to continue to employ the Executive in the capacity of
Chief Investment Officer, and the Executive desires to be so employed.

     Now, therefore, in consideration of the mutual covenants set forth herein and other good and
valuable consideration the parties hereto hereby agree as follows:

1. Section 1 of the Original Agreement is hereby deleted and replaced in its entirety by the
following:

          Employment; Term. The Company and the LLC each hereby employ the Executive, and the
Executive agrees to be employed by the Company and the LLC, upon the terms and subject to the
conditions set forth herein, for a term of three (3) years, commencing on September 26, 2008 (the
“Commencement Date”), and ending on September 25, 2011 unless terminated earlier in accordance with
Section 4 of the Original Agreement; provided that such term shall automatically be
extended from time to time for additional periods of one calendar year from the date on which it
would otherwise expire unless the Executive, on the one hand, or the Company and the LLC, on the
other, give notice to the other party and parties prior to such date that it elects to permit the
term of this Agreement to expire without extension on such date. (The initial term of this
Agreement as the same may be extended in accordance with the terms of this Agreement is hereinafter
referred to as the “Term”).

2. Section 3(a) of the Original Agreement is hereby deleted and replaced in its entirety by the
following:

     “(a) Beginning September 26, 2008, the Company and the LLC will pay the Executive a base
salary at an aggregate annual rate of $330,000 through December 31, 2008 and, effective January 1,
2009, at an aggregate annual rate of $350,000, subject to annual review by the Compensation
Committee of the Board (the “Compensation Committee”), and in the discretion of such Committee,
increased from time to time. Once increased, such base salary may not be decreased. Such salary
shall be paid in periodic installments in accordance with the Company’s standard practice, but not
less frequently than semi-monthly.”

 

 

3. Section 3(c) of the Original Agreement is hereby deleted and replaced in its entirety by the
following:

     “(c) In addition to the bonus referenced in Paragraph 3(b) above, Executive will be eligible
to participate in the Company’s Development Incentive Plan on terms agreed to by the Chief
Executive Officer. The Executive’s participation in the Development Incentive Plan may not be
decreased.

4. Section 3(g) of the Original Agreement is hereby deleted and replaced in its entirety by the
following:

     “(g) The Company and the LLC will reimburse the Executive, in accordance with its standard
policies from time to time in effect, for all out-of-pocket business expenses as may be incurred by
the Executive in the performance of his duties under this Agreement. In addition, at the
Executive’s election, the Company will (a) allow the Executive to use the apartment leased by the
company for traveling executives in the Washington, D.C. metropolitan area, with a monthly rent not
to exceed $2,500, for use by the Executive, based on availability of the apartment, while the
Executive is in the Washington, D.C. metropolitan area or (b) pay to Executive a monthly housing
allowance of $2,500. The election of (b) is taxable income to Executive and shall not be grossed
up by the Company.”

5. The parties hereby acknowledge and agree that there are no breaches or defaults of the Original
Agreement by either party, and each party forever waives and releases the other from any right it
may have had to terminate the Original Agreement prior to the date of this Amendment.

6. All capitalized terms used herein as defined terms which are not defined herein but which are
defined in the Original Agreement shall have the meanings given to them in the Original Agreement.

7. Except as expressly amended hereby, all of the provisions, terms, and conditions contained in
the Original Agreement shall remain in full force and effect and are hereby ratified by the
parties.

8. This Amendment may be executed in any number of counterparts each of which shall, when executed,
be deemed to be an original and all of which shall be deemed to be one and the same instrument.
Signatures on this Amendment shall be deemed to be original signatures for all purposes of this
Amendment.

[Signatures appear on the following page]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the date
first above written.

	 	 	 	 	 	 	 
	 	 	EXECUTIVE:	 	 
	 
	 	 	 	 	 	 
	 	 	/S/ Leslie Ng	 	 
	 	 	 	 	 
	 	 	Leslie Ng	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	INTERSTATE HOTELS & RESORTS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /S/ Christopher Bennett
 

	 	 
	 	 	Name: Christopher Bennett	 	 
	 	 	Title: EVP & General Counsel	 	 
	 
	 	 	 	 	 	 
	 	 	LLC:	 	 
	 
	 	 	 	 	 	 
	 	 	INTERSTATE MANAGEMENT COMPANY, LLC	 	 
	 
	 	 	 	 	 	 
	 	 	By: Interstate Operating Company, L.P., a member	 	 
	 
	 	 	 	 	 	 
	 	 	By:  Interstate Hotels & Resorts, Inc.,

its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /S/ Christopher Bennett
 

	 	 
	 	 	Name: Christopher Bennett	 	 
	 	 	Title: EVP & General Counselexv10w16

Exhibit 10.16

Prepared by and return to:

James S. Groh, Esq.

HOLLAND & KNIGHT LLP

50 North Laura Street

Suite 3900

Jacksonville, Florida 32202

SECOND MORTGAGE, ASSIGNMENT OF RENTS,

SECURITY AGREEMENT AND FIXTURE FILING

     THIS SECOND MORTGAGE, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE
FILING (the “Mortgage”) is executed as of June 13, 2008, by SPECTRUM SCIENCES &
SOFTWARE, INC., a Florida corporation, whose address is 2677 Prosperity Avenue,
Suite 300, Fairfax, Virginia 22031 (the “Mortgagor”), which term as used herein
in every instance shall include the Mortgagor’s successors, legal
representatives and assigns, including all subsequent grantees, either voluntary
by act of the parties or involuntary by operation of law, to DARRYL K. HORNE, an
individual, whose address is 1732 Brookside Lane, Vienna, VA 22182 (the
“Mortgagee”), which term as used herein in every instance shall include the
Mortgagee’s successors, legal representatives and assigns, including all
subsequent assignees, either voluntary by act of the parties or involuntary by
operation of law.

WITNESSETH:

     THAT for diverse good and valuable considerations, and also to secure the
payment of the aggregate sum of money named in the Note as hereinafter defined,
together with interest thereon, and all other sums of money secured hereby as
hereinafter provided, the Mortgagor does hereby mortgage, encumber and lien
unto the Mortgagee the land of which the Mortgagor is now seized and in actual
possession, in the County of Okaloosa County, State of Florida, described in
Exhibit A attached hereto and made a part hereof (hereinafter referred to as
the “Land”), together with all and singular the improvements, tenements,
hereditaments, easements and appurtenances thereunto belonging, or in anyway
appertaining, and the rents, issues, and profits thereof, and also all the
estate, right, title, interest and all claims and demands whatsoever, as well
in law as in equity, of said Mortgagor in and to the same, and every part and
parcel thereof, and also specifically but not by way of limitation all gas and
electric fixtures, water and drainage pumps, pipes, component parts and
materials located upon the Land, and which are now or may hereafter pertain to
or be used with, in or on said premises, even though they be detached or
detachable, are and shall be deemed to be fixtures and accessories to the
freehold and a part of the realty (the Land and all other property described in
this paragraph is hereinafter collectively referred to as the “Mortgaged
Property”).

     The said Mortgagor hereby covenants with the said Mortgagee that the said
Mortgagor is indefeasibly seized with the absolute and fee simple title to the
Mortgaged Property, and has full power and lawful authority to mortgage,
encumber and lien the same; that the Mortgaged Property is free and discharged
from all liens, encumbrances and claims of any kind, including taxes and
assessments, except for the senior lien of the First Mortgage, as such term is
defined in Section 6 herein; that the Mortgagor will make at Mortgagor’s expense
and at no expense to Mortgagee, such other and further assurances to perfect the
lien on said Mortgaged Property, fixtures and personal property in the Mortgage
as may

 

 

hereafter be required; and that the Mortgagor hereby fully warrants unto the Mortgagee the title
to said Mortgaged Property and will defend the same against the lawful claims and demands of all
persons whomsoever.

     NOW, THEREFORE, the conditions of this Mortgage are such that if the Mortgagor shall well and
truly pay unto the Mortgagee the indebtedness evidenced by that certain Working Capital Commercial
Note (the “Note”) of even date herewith, made by the Mortgagor and payable to the Mortgagee in the
principal sum of FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($500,000.00), the final payment of
which is due upon the earlier of (i) June 13, 2009, subject to one (1) six (6) month extension
option pursuant to the Note, or (ii) the sale of the Mortgaged Property, together with any note or
notes hereafter executed by the Mortgagor herein by and in accordance with Section 14 of this
Mortgage as hereinafter set forth and secured by the lien of this Mortgage, together with interest
as therein stated, and shall perform, comply with and abide by each and every one of the
stipulations, agreements, conditions and covenants contained and set forth in this Mortgage and in
the Note secured hereby, then this Mortgage and the estate hereby created shall cease and be null
and void.

     AND the Mortgagor does hereby covenant and agree:

     1. To perform, comply with and abide by each and very one of the stipulations, agreements,
conditions and covenants contained and set forth in said Note or Notes and this Mortgage.

     2. To pay the indebtedness secured by this Mortgage and according to the true tenor and
effect of the Note or of any renewal thereof, promptly on the day or days the same become due.

     3. To pay, before becoming delinquent, all obligations, encumbrances, taxes, assessments,
sidewalk paying, sanitary and other assessments, levies or liens, now or hereafter levied or
imposed upon or against the Mortgaged Property, and to exhibit to the Mortgagee before such taxes,
assessments, liens and encumbrances become delinquent the official receipt for payment thereof,
and if the same or any part thereof be not paid before becoming delinquent the Mortgagee may at
any time pay the same with accrued interest and charges, if any, without waiving or affecting
Mortgagee’s option to foreclosure this Mortgage, or any right hereunder, and every payment so made
shall bear interest from the date thereof at the maximum rate permitted by law, and all such
payments with interest shall be secured by the lien hereof.

     4. That in the event a suit is instituted to foreclose this Mortgage, the Mortgagee shall be
entitled to apply at any time during such foreclosure suit to the court having jurisdiction thereof
for the appointment of a receiver of all and singular the Mortgaged Property, and of all rents,
income, profits, issues and revenues thereof, from whatsoever source derived; and thereupon it is
hereby expressly covenanted and agreed that the court shall forthwith appoint such receiver with
the usual powers and duties of receivers in like cases; and said appointment shall be made by the
court as a matter of strict right to the Mortgagee, and without reference to the adequacy or
inadequacy of the value of the Mortgaged Property, or to the solvency or insolvency of the
Mortgagor or any other party defendant to such suit. The Mortgagor hereby specifically waives the
right to object to the appointment of a receiver as aforesaid and hereby expressly consents that
such appointment shall be made as a admitted equity and as a matter of absolute right to the
Mortgagee.

     5. That if any proceedings should be instituted against the Mortgaged Property, upon any
other lien or claim whether superior or junior (if permitted) to the lien of this Mortgage, then
the Mortgagee may declare the Note and the indebtedness secured hereby due and payable forthwith
and may at its option proceed to foreclose this Mortgage.

2

 

     6. That this Mortgage is a second mortgage, subject and subordinate to that certain First
Mortgage, Assignment of Rents, Security Agreement and Fixture Filing of even date herewith,
granted by Mortgagor to Susott Family Limited Partnership, a California limited partnership,
securing an original principal indebtedness of $1,000,000.00 (the “First Mortgage”). Mortgagor
covenants and agrees to timely comply with and abide by all of the terms and conditions of the
First Mortgage and the promissory note(s) secured thereby. Mortgagor further agrees that a default
under the First Mortgage or the promissory note(s) secured thereby shall constitute a default
under this Mortgage, and if Mortgagor shall fail to cure any default under the First Mortgage or
the promissory note(s) secured thereby within the time specified therein, such time being of the
essence with respect to this Mortgage, the Mortgagee may, at its sole option, declare all sums
secured by this Mortgage to be immediately due and payable, without demand or notice. Mortgagor
covenants and agrees that Mortgagor will not enter into or accept any modification or extension
of, or accept any future or additional advance under, the First Mortgage without the prior written
consent of Mortgagee, and any breach of such covenant will constitute a default under this
Mortgage, whereupon Mortgagee may, at its sole option, declare all sums secured by this Mortgage
to be immediately due and payable, without demand or notice.

     7. To pay all and singular the costs, fees, charges and expenses of every kind found to be
convenient or expedient in connection with any suit for the foreclosure of this Mortgage, and also
including, whether the Mortgagee is obligated to pay same or not, reasonable attorney’s fees
incurred or expended at any time by the Mortgagee because of the failure of the Mortgagor to
perform, comply with and abide by all or any of the covenants, conditions and stipulations of the
Note, or this Mortgage, in the foreclosure of this Mortgage and in collecting the amount secured
hereby with or without legal proceedings, and to reimburse the Mortgagee for every payment made or
incurred for any such purpose with interest from date of every such payment at the maximum rate
permitted by law; such payments and obligations, with interest thereon as aforesaid, shall be
secured by the lien hereof.

     8. To keep the improvements now or hereafter constructed on the Land insured against loss or
damage by fire, extended coverage and other perils, and flood insurance if the Land is in a flood
zone area, in a sum not less than their full insurable value, at the cost and expense of the
Mortgagor, by a company or companies reasonably acceptable to the Mortgagee, and such policy or
policies of insurance shall name Mortgagee as the mortgage holder. The term “full insurable value”
means one hundred percent (100%) of the actual replacement cost of the Property (excluding
foundation and excavation costs and costs of underground flues, pipes, drains and other
uninsurable items).

     9. To permit, commit or suffer no waste and to maintain the improvements on the Land at all
times in a state of good repair and condition; and to do or permit to be done to said premises
nothing that will alter or change the use and character of the Mortgaged Property or in any way
impair or weaken the security of this Mortgage.

     10. That no waiver of any covenant herein or in the obligation secured hereby shall at any
time hereafter be held to be a waiver of any of the other terms hereof or of the note secured
hereby and further no such waiver shall be deemed to be a continuing waiver.

     11. That if the Mortgagor shall fail, neglect or refuse fully and promptly to pay the amounts
required to be paid by the Note hereby secured or the interest therein specified or any of the sums
of money herein referred to or hereby secured, or otherwise duly, fully and promptly perform,
execute, comply with and abide by each, every or any of the covenants, conditions or stipulations
of this Mortgage or the Note hereby secured (each of the foregoing being referred to as an “event
of default”), then Mortgagee may at any time thereafter provide Mortgagor with written notice of
such default. If Mortgagor fails to cure such default within fifteen (15) days after Mortgagee
delivers such notice, then the said aggregate sum mentioned in the Note, less previous payments, if
any, and any and all sums

3

 

mentioned herein or secured hereby shall become due and payable forthwith or thereafter at the
continuing option of the Mortgagee as fully and completely as if said aggregate sums were
originally stipulated to be paid at such time, anything in the Notes or herein to the contrary
notwithstanding, and the Mortgagee shall be entitled thereupon or thereafter without notice or
demand to institute suit at law or in equity to enforce the rights of the Mortgagee hereunder or
under the Note.

     12. That in the event Mortgagor shall (a) consent to the appointment of a receiver, trustee
or liquidator of all or a substantial part of Mortgagor’s assets, or (b) be adjudicated a bankrupt
or insolvent, or file a voluntary petition in bankruptcy, or admit in writing its inability to pay
its debts as they become due, or (c) make a general assignment for the benefit of creditors, or
(d) file a petition or answer seeking reorganization or arrangement with creditors, or to take
advantage of any insolvency law, or (e) file an answer admitting the material allegations of a
petition filed against the Mortgagor in any bankruptcy, reorganization or insolvency proceeding,
or (f) take action to effect any of the foregoing, or (g) default under the terms and conditions
of the First Mortgage or the promissory note(s) secured thereby, or (h) any order, judgment or
decree shall be entered upon an application of a creditor of Mortgagor by a court of competent
jurisdiction approving a petition seeking appointment of a receiver or trustee of all or a
substantial part of the Mortgagor’s assets and such order, judgment or decree shall continue
unstayed and in effect for any period of thirty (30) consecutive days, the Mortgagee may declare
the Note hereby secured forthwith due and payable, whereupon the principal of and the interest
accrued on the Note and all other sums hereby secured shall become forthwith due and payable as if
all of the said sums of money were originally stipulated to be paid on such day; and thereupon the
Mortgagee without notice or demand may prosecute a suit at law and/or in equity as if all monies
secured hereby had matured prior to its institution.

     13. That the Mortgagee or any person authorized by the Mortgagee shall have the right, upon
at least one (1) business day’s notice to the Mortgagor, to enter upon and inspect the Mortgaged
Property.

     14. That any sum or sums which may be loaned or advanced by the Mortgagee to the Mortgagor at
any time within twenty (20) years from the date of this Mortgage, together with interest thereon
at the rate agreed upon at the time of such loan or advance, shall be equally secured with and
have the same priority as the original indebtedness and be subject to all the terms and provisions
of this Mortgage; provided, that the aggregate amount of principal outstanding at any time shall
not exceed an amount equal to two hundred percent (200%) of the principal amount originally
secured hereby.

     15. That the Mortgagor will comply with all building, zoning, environmental, fire and health
regulations now or hereafter imposed by governmental authority and will comply with all deed
restrictions, declarations of restrictions and plat restrictions which may be applicable to the
premises.

     16. That Mortgagor will not permit any other liens or encumbrances whatsoever, including but
not limited to the lien of any mortgage (other than the lien of the First Mortgage), to be filed
against the Mortgaged Property, and if any such liens are filed, whether paramount or subordinate
to this Mortgage, Mortgagor will have or cause to be had said liens or encumbrances to be
discharged immediately or else the entire principal sum secured hereby shall, at the sole option
of the Mortgagee, become immediately due and payable.

     17. If intangible tax, documentary stamps or any other tax shall be levied or assessed upon
this Mortgage and/or the Note secured hereby, the Mortgagor agrees to promptly pay upon demand all
such tax or taxes.

     18. Upon any sale, transfer or conveyance of the Mortgaged Property herein described or any
part thereof, or any interest therein, including any security interest in the Mortgaged Property,
whether

4

 

voluntarily or involuntarily and covered by this Mortgage, to any person, firm, or corporation,
not previously approved in writing by the holder of this Mortgage, the Mortgagee or holder shall
have the right to accelerate the maturity of this Mortgage as though it were due and payable on
the day of such transfer and to demand payment in full of the said Mortgage amount or any unpaid
balance thereof, and to exercise all the rights and remedies herein or by law reserved to said
Mortgagee the same as in any event of default hereunder, anything in the Note or herein to the
contrary notwithstanding. The granting of the loan evidenced by the Note hereinabove described and
secured hereby is given by Mortgagee in reliance on the Mortgagor herein being and remaining fee
simple title holder of the property encumbered hereby.

     19. That in the event of foreclosure of this Mortgage or other transfer of title to the
Mortgaged Property, all right, title and interest of the Mortgagor in and to any insurance
policies then in force, including all premiums thereon paid in advance, and, together with all
deposits and advance payments for utility service, in connection with the operation of the
Mortgaged Property together with any and all other deposits given or fees paid by Mortgagor, shall
pass to the purchaser or grantee.

     20. That Mortgagor hereby grants to Mortgagee, its successors and assigns, a security
interest in all fixtures, goods and chattels now or hereafter owned by Mortgagor and now or
hereafter located upon or used in connection with the construction or operation of the Mortgaged
Property or any improvements thereon, including but not limited to all uninstalled materials,
equipment or fixtures and all stoves, refrigerators, dishwashers, disposals, water heaters,
heating and air conditioning units, incinerators, carpeting, drapes and all other goods and
articles of personal property of any kind or description and all replacements thereof and
additions thereto. This indenture constitutes a Security Agreement and Fixture Filing with respect
to said fixtures, goods and chattels covered hereby, together with all proceeds thereof, in
accordance with the Uniform Commercial Code. The Mortgagor’s address is 2677 Prosperity Avenue,
Suite 300, Fairfax, Virginia 22031, and its corporate charter
number is GO3833. The Mortgagee’s
address is 1732 Brookside Lane, Vienna, VA 22182.

     21. That all notices, demands and requests required or permitted to be given hereunder or by
law shall be deemed delivered when deposited in the United States mail, the full postage prepaid
thereon, addressed to Mortgagor or Mortgagee at their respective addresses first shown above in
this Mortgage. Any change in address of either Mortgagor or Mortgagee for the giving of notice
hereunder shall not become effective against the other party until written advice of such change
shall have been received by the other party.

     22. Whenever and wherever the context so requires or admits herein, the use of the singular
shall also denote the plural, the use of the masculine shall also denote the feminine, and
reference to natural persons shall also refer to artificial persons, and vice-versa.

     IN WITNESS WHEREOF, the Mortgagor has executed these presents under seal the day and year
first above written.

     [Mortgagor’s signature appears on the following page.]

5

 

	 	 	 	 	 	 	 	 	 	 	 
	Signed, sealed and delivered
	 	 	 	 	 	 	 	 	 	 
	in the presence of:
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	/s/ Robert L. Suthard	 	 	 	Spectrum Sciences & Software, Inc.,	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Name: Robert L. Suthard, Jr.	 	 	 	a Florida corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	/s/ Marcella J. Connors	 	 	 	By:	 	/s/ John Krobath	 	 
	 	 	 	 	 	 	 	 	 
	Name: Marcella J. Connors

	 	 	 	 	 	Name:
	 	John Krobath	 	 
	 

	 	 	 	 	 	Title:
	 	CFO	 	 

[SEAL]

	 	 	 	 	 
	State of VIRGINIA

	 	)	 
	 

	 	: ss.

	County
of FAIRFAX

	 	)	 

     The foregoing instrument was acknowledged before me this 2nd DAY OF JULY, 2008, by
JOHN KROBATH as CFO of Spectrum Sciences & Software,
Inc., a Florida corporation, on behalf of the corporation. He/she is personally known to me or
has produced VIRGINIA DRIVERS LICENSE as identification.

(NOTARY SEAL)

	 	 	 	 	 

	[SEAL]	 	/s/ Natalie A. Fehervari 	 	 
	 	 	 	 	 
	 

	 	Name: NATALIE A. FEHERVARI
 

	 	 
	 

	 	Notary Public, State of
Virginia 

	 	 
	 

	 	Commission
No. 344126 

	 	 
	 

	 	My Commission expires:
3/31/2012 

	 	 

6

 

EXHIBIT A

The Land

VER-VAL PROPERTY:

COMMENCE AT 4X4” CONCRETE MONUMENT MARKER ON THE NORTHEAST CORNER SECTION 17 FOR THE POINT OF
REFERENCE; THENCE PROCEED NORTH 87° 27’ 20” WEST ALONG THE NORTH LINE OF SAID SECTION A DISTANCE OF
425 FEET; THENCE SOUTH 2° 37’ 00” WEST A DISTANCE OF 399.46 FEET TO POB OF LAND TO BE DESCRIBED,
THENCE CONTINUE SOUTH 2° 37’ 00” WEST A DISTANCE OF 250 FEET, THENCE NORTH 87° 23’ 00” WEST A
DISTANCE OF 390.71 FEET TO A POINT ON EAST RIGHT OF WAY LINE OF HILL AVENUE (100’ R/W) SAID RIGHT
OF WAY LINE BEING A CURVE OF RADIUS 4708.28 FEET CONCAVE TO WEST; THENCE PROCEED ALONG SAID CURVE A
DISTANCE OF 41.72 FEET WITH A CHORD BEARING OF NORTH 1° 30’ 08” EAST AND CHORD DISTANCE OF 41.72
FEET TO POINT OF CURVATURE OF SAID CURVE; THENCE CONTINUE ALONG SAID RIGHT OF WAY LINE NORTH 1° 15’
20” EAST A DISTANCE OF 208.35 FEET; THENCE SOUTH 87° 23’ 00” EAST A DISTANCE OF 396.47 FEET TO POB.
BEARINGS AS SHOWN HAVE BEEN PROJECTED FROM A BEARING OF NORTH 87° 27’ 20” WEST AS ESTABLISHED ALONG
NORTH LINE OF SECTION 17, NORTHEAST QUARTER OF SECTION 17, TOWNSHIP 2 SOUTH, RANGE 24 WEST,
OKALOOSA COUNTY, FLORIDA.

PARCEL 1:

THAT PART OF THE NORTHEAST QUARTER OF SECTION 17, TOWNSHIP 2 SOUTH, RANGE 24 WEST IN THE CITY OF
FORT WALTON BEACH INDUSTRIAL PARK, OKALOOSA COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS:

COMMENCE AT THE 4 INCH BY 4 INCH CONCRETE MONUMENT MARKING THE NORTHEAST CORNER OF SAID SECTION 17
FOR THE POINT OF REFERENCE; THENCE PROCEED NORTH 87° 27’ 20” WEST ALONG THE NORTH LINE OF SAID
SECTION A DISTANCE OF 80.00 FEET TO A POINT ON THE WEST RIGHT OF WAY OF BLAKE AVENUE (80’ R/W);
THENCE SOUTH 02° 37’ 00” WEST ALONG SAID WEST RIGHT OF WAY LINE A DISTANCE OF 399.90 FEET TO THE
POINT OF BEGINNING OF THE LAND TO BE DESCRIBED; THENCE CONTINUE SOUTH 02° 37’ 00” WEST ALONG SAID
WEST RIGHT OF WAY LINE A DISTANCE OF 250.00 FEET; THENCE NORTH 87° 23’ 00” WEST A DISTANCE OF
345.00 FEET; THENCE NORTH 02° 37’ 00” EAST A DISTANCE OF 250.00 FEET; THENCE SOUTH 87° 23’ 00” EAST
A DISTANCE OF 345.00 FEET TO THE POINT OF BEGINNING.

PARCEL 2:

THAT PART OF THE NORTHEAST QUARTER OF SECTION 17, TOWNSHIP 2 SOUTH, RANGE 24 WEST IN THE CITY OF
FORT WALTON BEACH INDUSTRIAL PARK, OKALOOSA COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS:

COMMENCE AT THE 4 INCH BY 4 INCH CONCRETE MONUMENT MARKING THE NORTHEAST CORNER OF SAID SECTION 17
FOR THE POINT OF REFERENCE; THENCE PROCEED NORTH 87° 27’ 20” WEST ALONG THE NORTH LINE OF SAID
SECTION, A DISTANCE OF 80,00 FEET TO A POINT ON THE WEST RIGHT OF WAY OF BLAKE AVENUE (80’ R/W) AND
TO THE POINT OF BEGINNING OF THE LAND TO BE DESCRIBED; THENCE CONTINUE NORTH 87° 27’ 20” WEST ALONG
THE NORTH LINE OF SAID SECTION A DISTANCE OF 345.00 FEET; THENCE SOUTH 02° 37’ 00” WEST A DISTANCE
OF 399.46 FEET; THENCE ‘ SOUTH 87° 23’ 00” EAST A DISTANCE OF 345.00 FEET TO A POINT ON THE WEST
RIGHT OF WAY OF . BLAKE AVENUE; THENCE NORTH 02° 37’ 00” EAST ALONG SAID WEST RIGHT OF WAY A
DISTANCE OF 399.90 FEET TO THE POINT OF BEGINNING. SURVEYOR’S NOTE: THE BEARINGS AS SHOWN HEREIN

 

 

EXHIBIT A

The Land

HAVE BEEN PROJECTED FROM A BEARING OF NORTH 87° 27’ 20” WEST AS ESTABLISHED ALONG THE NORTH LINE OF
SECTION 17.

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