2022-009 - Deed of Release for the Portion of Centennial Park called "Exchange Property"

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Replacement Property 3) the Pacific Electric Park site encompassing 1.25-acres more or less, and located at the northeast comer of the intersection of McFadden Avenue and Orange Avenue, (collectively the "Replacement Properties") and would impose a condition that the Replacement Properties be used exclusively for public park and recreation purposes, as required pursuant to the Act. D. Grantor and Grantee wish to make the Replacement Properties available to be used exclusively for public park and recreation purposes. E. The Act authorizes the Secretary of the Interior to release the Exchange Property from the Restrictions if certain conditions are met, which authority has been redelegated to the Director of the National Park Service and the Regional Directors of the National Park Service. F. The General Services Administration has advised the National Park Service by letter dated July 12, 2021, that it concurs with releasing all Restrictions set forth in the Quitclaim Deeds placed upon the Exchange Property for public park and recreational purposes. NOW, THEREFORE, the said Regional Director, acting on behalf of the United States of America, does hereby release the Exchange Property from all Restrictions placed upon it in the Quitclaim Deeds, including, without limitation, the requirement that the Exchange Property be used exclusively for public park and recreational purposes. This Release does not affect, and the Exchange Property remains subject to, all legal easements, leases, agreements, rights -of -way, and other restrictions. All Park Property conveyed in the original Quitclaim Deeds that is not included in the Exchange Property remains subject to the Restrictions in the Quitclaim Deeds, including but not limited to the requirement that it be used for public park and recreation area purposes in perpetuity. This Deed of Release does not convey any right of exclusive use of any areas, including but not limited to parking areas, outside the Exchange Property. In consideration of the release of the Exchange Property from the Restrictions, Grantee has on this same day entered into a Declaration of Restrictions for each of the three Replacement Properties with the United States of America, acting by and through the Secretary of the Interior, whereby Grantee will pledge certain rights and interests in the Replacement Properties to the United States of America, acting by and through the Secretary of the Interior. The form of the Declaration of Restrictions is attached as Schedule 3 to this Release. Remainder ofpage intentionally left blank Centeimial Park / GSA Ne Z-Calif-598B,C&D Page 2 of 22 Deed of Release