~.

" ~".
-v-; PA8T1ES FINANCING STATEMENT CHANGE D
Debtor name (las! name first if individU@mailing address; ,c , Unlfonn Comm,,-ial Code Fonn UCC-3
. iMPORTANT - ' , read instructions on
Radnor Center' A~sociates ,. reverse side of , _ 4 before completing
c/o The Rubenstein Company Filing No. (stamped by ming officer): Date, TIme, FlI1ng OIflce (stamped by filing officer)
4100 One Commerce Square -. /5'/1', /:::-
2005 Market Street
Philadelphia, PA 19103
- Sr3;?,3...s
Attn: General Counsel
.... ,. 1 5
Debtor name (last name first if individual) and mailing address: This financIng Statement Change is presented for filing pursuant to the Uniform Commercial Code, and is to be filed
with the (check applicable box);
,,_ o SecretarY of the Commonwealth.
o Prothonotary of County,
I[] Real Estate Records of Delaware County. 6
Number of Additional Sheels (if any): 7
Optional Specialldentilitallon (Max. 10 characters):M,q;;JQ_ 8
ORIGINAL FINANCING STATEMENT BEING CHANGED
1a ": .,\' . .' .. _. ~~~-.;;; f!l!i.t;-~,.1~·· .~~, . Vol. 1324, :eage 10
TIlls Financing Statement Change relates to. an original Financing Statement No.
Debtor name (last name first if individual) and mailing addrass: 1\ .. ,~.' .~, ~ •••••• :;.t.'." c .
filed with the:
·T···
o Secretary of the Commonwealth on (date)
o Prothonotary of c ,~;~"""" .i;Ft,~.'~tiIf(daI~f"'" . .c
[f] Real Estate Records of J,l#.lJ.Jl~~:i'Hn,;;'County,on .(date) 12i16L94
~ ... :.;., ...... . ,.' 9
DESCRIPTION OF FINANCING STATEMENT CHANGE
.. o Conllnuatlon • The onginal Financing Statemen_.'1mt~fj'lrnil~:Je,;""
~.:. 1b o Termination· TIle sei;ilred.:palfij76t1'R~~~1tI~afmsa'·sec~riIy interest under the Original Financing S!alemen~
Secured PartyOes) of Record name(s) (last name first If individual) and identified above. . ~~. r"v
address for security interest information: U Release - The Secured Party of Record has released tile collateral described in block 11 from the coliatera.J>tlvered
The Comptroller of the State of New by the original Financing Statement identified above. '-...J
.York as Trustee of the Common o Assignment· TIle Secured Party of Record has assigned to tile Assignee, whose name and address are -CWItained
;Retirement Fund in block 11. rights in the collateral described in block 11 under the original finanCing Statement identifie~ve.
270 Broadway, Suite 2300 gfJ Amendment· The original financing Statement identified above is amended as set forth in block 11 (signatures of
New York, NY 10007 Debtor and Secured Party of Record are required).
Attn: Asst. CoUnsel for Real Estate
Investments 2 10
'.
" Description of collateral released, lights assigned, Assignee (name and address), or amendment (as indicated in block
, Speclal1¥Pes of Parties (check if appficable): . 10):
cD TIlk·terms "Oebtor" and "Secured Party" mean "lessee" and "lessor," Release: Tracts 2 and 3 of the real estate, more fully
respectively.
"" described on Exhibit A to this UCC-3, are,
, 0 J~ terms "Oeblor" and "Secured Party" mean "Consignee" and released. In
G",
,,' 'Consi!Jlior," respectively. "" ~
.• v._ ; .........
. 0 D~htor is a Transmitting Utility. .~$
Amendment: Debtor's address is changed to address-set
··c 3 forth in Block 1 above. I
.• k, SIGNATURE{S! ~ - , c:;'')
, --c
....... _ ..
-
c cDebtor Signatunl(s) (only if Amendment); , ~,
Radnor Center Associates ~'
;By: TRG Realty, Inc.-RAD -c ..... , (:J r.:
~ 'c r .'1
i.~s general partner _'"
c. 'i1
~ RETURN RECEIPT TO: ... .
0':
.... c:
.,By:
TITLE IN SURlI.NCE COMPA.>:JY/ =
z CHICAGO Cl-
TICOR TITLE INSURANCE COMPANY CJ
. Setured Party Slgnature(Sr .; 1601 MARKET STREET -~ SUITE 2550 r- ...
The Comptrol er of the State of' New "PHIL.ADELPHIA, PENNSYLVANIA 19103 •. ~ .....
-'
York as Trustee for the Common -
Retirement Fund ~~
c=
". •... ,_:,:.~· c ./ 44 ~
lIP. c·
"~~ .. ~;tA
~~~ .J'
Rv· 4 12
".' '/
8T ANDARO Ftl"F\1;( uce-s ~ . , ~ -
- - Approved by Secretary of Commonwealth of Pennsylvania

FILING OFFICE ACKNOWLEDGEMENT CDunly onty. NOTE - This page will nol be returned by the Department ot State.

r"ru IL.(,t

Debtor name (last name first if individual) and mailing address:

Raduo r Center Associates c/o The Ltubenstein Company 4100 One Commerce Square 2005 Market Street Philadelphia. PA 19103 Attn: General Counsel

Debtor name (last name first if individual) and mailing address:

Debtor name (last name first if individual) and mailing address:

SlIclIred ParlyQest of Record namets) (last name first if individual) and address for security interest information:

The Comptroller of the State of New York as Trustee of the Common Retirement Fund

270 Broadway. Suite 2300 New York. NY 10007

Attn: Asst. Counsel for Real Estate Investments

Special Types 01 Parties (check if applicable);

o The terms "Debtor" and "Secured Party" mean "lessee" and "lessor." respectively,

o The terms "Debtor" and "Secured Party" mean "Consignee" and "Consignor," respectively.

o Debtor is a Transmitting Utility.

SIGNATURE(S)

Debtor Signature(s) (only if Amendment):

Radnor Center Associates

By: TRC Realty, Inc.-RAD

its general partner

By:

Secured Party Signature(s}:

The Comptroller of the State of New

York as Trustee for the Common

Retirement Fund

Bv:

Uniform CommeTclal GOOO i"onn Ul.li·3

IMPORTANT - Please read instructions on

reverse side 01 r- - 4 before compleling ~~~--~~~~~------- -----~~~--=-~--~~~~

Filing No. (stamped by filing officer): Dale, Tlme, F1JIng Office (stamped by filing officer)

1

5

This FInancing Statement Change is presented for filing pursuant to tlle Uniform Commercia! Code, and is to be filed With tlle (check applicable box):

D Secretary of tlle Commonwealtll.

D Prothonotary of _

~ Real Estate Records of Delaware

Number of Additional Sheets (if any):

Optional Speclalldentiflcatlon (Max, 10 characters): 7·~.lJq;;JQ

ORIGINAL FINANCING STATEMENT BEING CHANGED

1a

This FinanCing Statement Change relates 10 an original Financing Statement No. _V.:.:::o..:::l:.:.~1::.:3::..::2_:42,~;:.=.=:_:;_;:_ filed witll the:

D Secretary of the Commonwealth on (date) _

o Prothonotary 01 County on (date) _

KJ Real Estate Records of Delaware

County on (date) __ 1.&...,2"-!/-.].l..J6>l,./,_9:z.:.4:l:..- _

9

DESCRIPTION OF FINANCING STATEMENT CHANGE

1b

o Continuation • The original FinanCing Statement identified above is still effective, :::

.,.

o Tenninallon· The Secured Party 01 Record no longer claims a security interest under the original FinanCing ~en,:

identified above. N S

KJ Rele~e· The Secured Party 01 Record has released the collateral described in block t 1 Irom the collatera'[J'Overe~

by tlle Original financing Statement identified above. -.J .,.

o Assignment· The Secured Party of Record has assigned to the AsSignee, whose name and address are~inects in block 1 t. rights in tlle collateral described in block 11 under tlle original finanCing Statement identlfie~ve. ':

KJ Amendment· The original Financing Statement identified above is amended as set forth in block 11 (signatures oC:;

Debtor and Secured Party 01 Record are required). :.

10

2

3

Description of collateral released, rights assigned. Assignee (name and address). or amendment (as indicated in block 10);

Release: Tracts 2 and 3 of the real estate, more fully described on Exhibit A to this UCC-3. are~

released. en ~ :x

~ to..address -s:et - ~~r~: ';~;.Pi',.;\ d, \ (

':~~~ ~;:~J

.... ~:'~?i+g:~:'~' ~ \.

Amendment:

Debtor's address is changed forth in Block 1 above.

RETURN RECEIPT TO:

0
u: -
""tI
... -,]
C"")
0
=
c...
0
f""--..
-
.....
-
- -
__,
=
:::-
12 CHICAGO TITLE INSUfu\NCE COMPANY/ TICOR TITLE INSURANCE COMPANY 1601 MARKET STREET - SUITE 2550 PHILADELPHIA. PENNSYLVANIA 19103

~TA 44

4

FILING OFFlCE URIGINAL

NOTE - This page will not be returned by the Department of State.

STANDARD Fo!j&!'ucc.a Au thor1ked Signa tory Approved bJAilcretary of Commonwealth oi ~iii1sylvania

EXHIBIT A TO UCC-3 FINANCING STATEMENT

DESCRIPTION OF THE RELEASED REAL ESTATE

ALL THOSE two tracts or parcels of land, together with the buildings and improvements thereon, situate in the Township of Radnor, County of Delaware and Commonwealth of Pennsylvania, being shown on a plan entitled "ALTA-ACSM Land Title Survey, Plan of Radnor Corporate Center, plan prepared for Radnor Center Associates, a Pennsylvania limited partnership", prepared by Yerkes Associates, Inc., West Chester, Pennsylvania, dated July 16, 1993, last revised and certified on December 7, 1994, sheets 1 and 2 of 2, and being more particularly described as follows:

TRACT 2

BEGINNING at an iron pin on the Southerly side of Matsonford Road (57 feet wide), said point being located the seven (7) following courses and distances from the intersection of the title line in King of Prussia Road with the Southerly side line of Hare's Lane (40 feet wide, private): (1) along the Southerly side line of Hare's Lane, North 68 degrees 31 minutes 00 seconds East, 345.30 feet to a point; (2) thence, North 21 degrees 29 minutes 00 seconds West, 20.00 feet to a point in the bed of Hare's Lane; (3) thence in the bed of Hare's Lane, on the arc of a circle curving to the left, having a radius of 1525.00 feet, an arc distance of200.75 feet and a chord bearing and distance of North 64 degrees 41 minutes 00 seconds East, 200.60 feet to a point; (4) thence in the same, on the arc of a circle curving to the left, having a radius of 460.00 feet, an arc distance of 40.01 feet and chord bearing and distance of North 58 degrees 29 minutes 00 seconds East, 40.00 feet to a point; (5) thence along the Easterly line of lands now or formerly of the Township of Radnor, South 25 degrees 16 minutes 20 seconds East, 587.63 feet to a point in the bed of Matsonford Road; (6) thence in the bed of Matsonford Road, North 85 degrees 40 minutes 00 seconds West, 15.00 feet to a point; (7) thence, South 11 degrees 22 minutes 00 seconds West, 20.56 feet to the point and place of beginning; thence extending along the Southerly side line of Matsonford Road, South 85 degrees 48 minutes 20 seconds East, 363.90 feet to a point; thence along the Westerly line of road (not named), South 40 degrees 26 minutes 40 seconds East, 73.68 feet to a point; thence along the same, on the arc of a circle curving to the left, having a radius of 341.56 feet, an arc distance of 66.47 feet and a chord bearing and distance of South 10 degrees 57 minutes 57 seconds East, 66.36 feet to a point of reverse curve; thence along the same, on the arc of a circle curving to the right, having a radius of 40.00 feet, an arc distance of 56.87 feet and a chord bearing and distance of South 24 degrees 11 minutes 26 seconds West, 52.20 feet to a point on the Northerly side line of Old Matsonford Road (width varies); thence along said side line, South 66 degrees 42 minutes 50 seconds West, 525.88 feet to a spike; thence along the Easterly line of lands now or formerly of the Township of Radnor, North 11 degrees 22 minutes 00 seconds East, 411.42 feet to the first mentioned point and place of beginning.

CONTAINING Two and Eight Hundred Thirty-One- Thousandths parts of an acre (2.831 acres), be the same more or less.

[Page 1 of 2 Pages]

VOr I 470 PG"O 335

TRACT 3

BEGINNING at a point on the Southerly side line of Matsonford Road (57 feet wide), said point being located the eight (8) following courses and distances from the intersection of the title line in King of Prussia Road with the Southerly side line of Hare's Lane (40 feet wide, private): (1) along the Southerly side line of Hare's Lane, North 68 degrees 31 minutes 00 seconds East, 345.30 feet to a point; (2) thence, North 21 degrees 29 minutes 00 seconds West, 20.00 feet to a point in the bed of Hare's Lane; (3) thence in the bed of Hare's Lane, on the arc of a circle curving to the left, having a radius of 1525.00 feet, an arc distance of 200.75 feet and a chord bearing and distance of North 64 degrees 41 minutes 00 seconds East, 200.60 feet to a point; (4) thence in the same, on the arc of a circle curving to the left, having a radius of 460.00 feet, an arc distance of 40.01 feet and a chord bearing and distance of North 58 degrees 29 minutes 00 seconds East, 40.00 feet to a point; (5) thence along the Easterly line of lands now or formerly of the Township of Radnor, South 25 degrees 16 minutes 20 seconds East, 587.63 feet to a point in the bed of Matsonford Road; (6) thence in the bed of Matsonford Road, North 85 degrees 40 minutes 00 seconds West, 15.00 feet to a point; (7) thence, South 11 degrees 22 minutes 00 seconds West, 20.56 feet to an iron pin on the Southerly side line of Matsonford Road; (8) thence, along said side line, South 85 degrees 48 minutes 20 seconds East, 534.18 feet to the point and place of beginning; thence extending along the Southerly side line ofMatsonford Road, South 85 degrees 48 minutes 20 seconds East, 48.56 feet to a point of curve; thence along the same, on the arc of a circle curving to the left, having a radius of 979.93 feet, an arc distance of 154.86 feet and a chord bearing and distance of North 89 degrees 40 minutes 02 seconds East, 154.69 feet to a point on the Northerly side line of Old Matsonford Road (width varies); thence along said Northerly side line, South 64 degrees 55 minutes 20 seconds West, 251.43 feet to the Easterly side of a road (not named); thence along said Easterly side line, on the arc of a circle curving to the right, having a radius of 261.56 feet, an arc distance of 67.88 feet and a chord bearing and distance of North 14 degrees 29 minutes 53 seconds West, 67.69 feet to a point of compound curve; thence along the same, on the arc of a circle curving to the right having a radius of 39.00 feet, an arc distance of 68.92 feet and a chord bearing and distance of North 43 degrees 33 minutes 55 seconds East, 60.30 feet to the first mentioned point and place of beginning.

CONTAINING Zero and Two Hundred Ninety-Seven-One Thousandths parts of an acre (0.297 acres), be the same more or less.

BEING part of Folio No. 36-02-01239-01.

BEING part of the same premises which Radnor Corporate Center Business Trust, a Pennsylvania business trust, successor by merger to Morgan's Run Corporation, by Deed dated June 30, 1994, and recorded July 8, 1994, in the Office for the Recording of Deeds in and for Delaware County, Pennsylvania, in Volume 1275, Page 1836, granted and conveyed unto Radnor Center Associates, a Pennsylvania limited partnership, its successors and assigns, in fee.

[Page 2 of2 Pages]

vnu, t~ 7 a PuolO 3 3 6

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Deed Taxable RECORD 1470-315

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1996026038 Proofed:

5/8/199612:05:18 AM: 0 Parent:

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6AKFIL

Remarks: DOCKET [96026713]

Consideration Amount: $1.00

Instrument Description:

Arrival Method: 6AKFIL

Change History

Click here to view history Submitter Address:

Return' Address:

- Parties

DIRECT

INDIRECT

Name/Company MDNOR CENTER ASSOCIATES TRC REAL 1Y INC RAD

AKA

Name/Company RADNOR TWP

AKA

Parcel Number 36-02-01239-01

Address MATSONFORD ROAD

- Parcel Numbers Parcel Number

Address

Created by TeamIA, Lexington, South Carolina

-_ .. _--_ .. _--_._----------_ .... _-_.

Public Access Home Page

© 2010 County of Delaware

lofl

7/15/20102:40 PM

GOLDBERG, EVANS, MALCOLM & DONATONI

A PROFESSIONAL CORPORATION ATTORNEYS AT LAW

135-137 WEST MARKET STREET WEST CHESTER (CHESTER COUNTY), PA. 19382

16101436-6220

FAX 16101 436-0628

LAWRENCE A. GOLDBERG EUGENE H. EVANS THOMAS O. MALCOLM ROBERT J. DONATONI WALTER M. ROHLFS

WILLIAM R. NOLL August 14, 1996

DELAWARE COUNTY OFFICE 2 EARLE'S LANE NEWTOWN SQUARE, PA. 19073

Radnor Township 301 Iven Avenue

Wayne, Pennsylvania 19087-5297

Attn: Mr. Robert M. Crofford Township Manager

RE: Radnor Corporate Center

Our File Number: M-287 (Radnor)

Dear Bob:

At long, long last I am pleased to be able to enclose the various documents, to include the original Deed transferring the Sun property to Radnor Township. Please note that this Deed has been duly recorded in the Recorder of Deeds Office of Delaware County, Pennsylvania in Volume 1470 I page 0315. I suggest that you keep these documents together in one safe place. We will make a copy ~r our file.

Sincerely Y9rlJ;/ £'/ ,//

/"/

74~,~vans -> /~ -

EHE/ddj Enclosures

(7)

CHICAGO TITLE INSURAN("I= COMPANY 1601 MARKET STREET

SUITE 2550

PHILADELPHiA, PA 19103

«[Iris ~.e.eo, made this 18th day of March, 1996, ~£ifn£.en RADNOR CENTER ASSOCIATES, a Pennsylvania limited partnership (hereinafter called the "Grantor'), of the one part, and the TOWNSHIP OF RADNOR, a Home Rule Charter Municipality (hereinafter called the "Grantee"), of the other part,

RET~'RN TO:

~itn£ssdlf, That in consideration of One Dollar ($1.00) in hand paid, the receipt whereof is hereby acknowledged, the said Grantor does hereby grant and convey unto the said Grantee, its successors and assigns,

J\ll tlfns.e two tracts or parcels of land, together with the buildings and improvements thereon, situate in the Township of Radnor, County of Delaware and Commonwealth of Pennsylvania, being shown on a plan entitled 1rALTA-ACSM Land Title Survey, Plan of Radnor Corporate Center, plan prepared for Radnor Center Associates, a Pennsylvania limited partnership ", prepared by Yerkes Associates, Inc., West Chester, Pennsylvania, dated July 16, 1993, last revised and certified on December 7, 1994, sheets 1 and 2 of2, and being more particularly described as follows:

TRACT 2

~.eginning at an iron pin on the Southerly side of Matson ford Road (57 feet wide), said point being located the seven (7) following courses and distances from the intersection of the title line in King of Prussia Road with the Southerly side line of Hare's Lane (40 feet wide, private): (1) along the Southerly side line of Hare's Lane, North 68 degrees 31 minutes 00 seconds East, 345.30 feet to a point; (2) thence, North 21 degrees 29 minutes 00 seconds West, 20.00 feet to a point in the bed of Hare's Lane; (3) thence in the bed of Hare's Lane, on the arc of a circle curving to the left, having a radius of 1525.00 feet, an arc distance of 200.75 feet and a chord bearing and distance of North 64 degrees 41 minutes 00 seconds East, 200.60 feet to a point; (4) thence in the same, on the arc of a circle curving to the left, having a radius of 460.00 feet, an arc distance of 40.01 feet and chord bearing and distance of North 58 degrees 29 minutes 00 seconds East, 40.00 feet to a point; (5) thence along the Easterly line of lands now or formerly of the Township of Radnor, South 25 degrees 16 minutes 20 seconds East, 587.63 feet to a point in the bed of Matsonford Road; (6) thence in the bed of Matsonford Road, North 85 degrees 40 minutes 00 seconds West, 15.00 feet to a point; (7) thence, South 11 degrees 22 minutes 00 seconds West, 20.56 feet to the point and place of beginning; thence extending along the Southerly side line of Matsonford Road, South 85 degrees 48 minutes 20 seconds East, 363.90 feet to a point; thence along the Westerly line of a road (not named), South 40 degrees 26 minutes 40 seconds East, 73.68 feet to a point; thence along the same, on the arc of a circle curving to the left, having a radius of 34 i.56 feet, an arc distance of 66.47 feet and a chord bearing and distance of South 10 degrees 57 minutes 57 seconds East, 66.36 feet to a point of reverse curve; thence along the

VOL r ',J 7 0 Pu 0 3 f 5

same, on the arc of a circle curving to the right, having a radius of 40.00 feet, an arc distance of 56.87 feet and a chord bearing and distance of South 24 degrees 11 minutes 26 seconds West, 52.20 feet to a point on the Northerly side line of Old Matsonford Road (width varies); thence along said sideline, ~\lJh_66~_degre~,~42_ID..inu.te~L5.!L~~~_~~"ds West, 525.88 feet to a spike; thence along the Easterly line of lands now or formerly of the" township of Radnor, North 11 degrees 22 minutes 00 seconds East, 411.42 feet to the first mentioned point and place of beginning.

QInntaining Two and Eight Hundred Thirty-One- Thousandths parts of an acre (2.831 acres), be the same more or less.

TRACT 3

~eginning at a point on the Southerly side line of Matson ford Road (57 feet wide), said point being located the eight (8) following courses and distances from the intersection ofthe ' title line in King of Prussia Road with the Southerly side line of Hare's Lane (40 feet wide, private): (1) along the Southerly side line of Hares Lane, North 68 degrees 31 minutes 00 seconds East, 345.30 feet to a point; (2) thence, North 21 degrees 29 minutes 00 seconds West, 20.00 feet to a point in the bed of Hare's Lane; (3) thence in the bed of Hare's Lane, on the arc of a circle curving to the left, having a radius of 1525.00 feet, an arc distance of 200.75 feet and a chord bearing and distance of North 64 degrees 41 minutes 00 seconds East, 200.60 feet to a point; (4) thence in the same, on the arc of a circle curving to the left, having a radius of 460.00 feet, an arc distance of 40.01 feet and a chord bearing and distance of North 58 degrees 29 minutes 00 seconds East, 40.00 feet to a point; (5) thence along the Easterly line of lands now or formerly of the Township of Radnor, South 25 degrees 16 minutes 20 seconds East, 587.63 feet to a point in the bed of Matsonford Road; (6) thence in the bed of Matson ford Road, North 85 degrees 40 minutes 00 seconds West, 15.00 feet to a point; (7) thence, South 11 degrees 22 minutes 00 seconds West, 20.56 feet to an iron pin on the Southerly side line of Matsonford Road; (8) thence, along said side line, South 85 degrees 48 minutes 20 seconds East, 534.18 feet to the point and place of beginning; thence extending along the Southerly side line of Matson ford Road, South 85 degrees 48 minutes 20 seconds East, 48.56 feet to a point of curve; thence along the same, on the arc of a circle curving to the left, having a radius of979.93 feet, an arc distance of 154.86 feet and a chord bearing and distance of North 89 degrees 40 minutes 02 seconds East, 154.69 feet to a point on the Northerly side line of Old Matsonford Road (width varies); thence along said Northerly side line, South 64 degrees 55 minutes 20 seconds West, 251.43 feet to the Easterly side of a road (not named); thence along said Easterly side line, on the arc of a circle curving to the right, having a radius of 261.56 feet, an arc distance of 67 .88 feet and a chord bearing and distance of North 14 degrees 29 minutes 53 seconds West, 67.69 feet to a point of compound curve; thence along the same, on the arc of a circle curving to the right having

- 2 -

VOL' I t. 7 0 PO 0 3 I 6

a radius of39.00 feet, an arc distance of68.92 feet and a chord bearing and distance of North 43 degrees 33 minutes 55 seconds East, 60.30 feet to the first mentioned point and place of beginning.

QIonhrining Zero and Two Hundred Ninety-Seven-One Thousandths parts of an acre (0.297 acres), be the same more or less.

~£inB part of Folio No. 36-02-01239-01.

~.eing part of the same premises which Radnor Corporate Center Business Trust, a Pennsylvania business trust, successor by merger to Morgan's Run Corporation, by Deed dated June 30, 1994, and recorded July 8, 1994, in the Office for the Recording of Deeds in and for Delaware County, Pennsylvania, in Volume 1275, Page 1836, granted and conveyed unto Radnor Center Associates, a Pennsylvania limited partnership, its successors and assigns, in fee.

"-no the said Grantor does hereby covenant to and with the said Grantee that it, the said Grantor, its successors and assigns, ~lrall aUD ~ill and by these presents does hereby ~arraut and forever lEl.ef.euD the hereinabove described premises, with the hereditaments and appurtenances, unto the said Grantee, its successors and assigns, against the said Grantor and against every other person lawfully claiming or who shall hereafter claim the same or any part thereof, by, from or under him, her, them or any of them.

~n ~itn.ezs ~lr.er£nf, the said Grantor has caused these presents to be duly executed, the day and year first above written.

_ ... """'~;~'i

,: J '.~": 61, . ,; :Q.~r:~'~ SEAL ]

2M!?

RADNOR CENTER ASSOCIATES a Pennsylvania limited partnership

Richard B. S em Assistant Secretary

By:

TRC Realty, Inc.-RAD

a Pennsylvania corporation, its General Partner

tJlt~

By:

Vice President

- 3 -

VOLI l~ 7 0 PO 0 3 I 7

STATE OF PENNSYLVANIA

ss.

COUNTY OF PHILADELPHIA :

®n tlyis, the 18th day of March, 1996, before me, a Notary Public in and for the State and County aforesaid, the undersigned officer, personally appeared Frank J. Ferro, who is either known to me or identified satisfactorily, who is a Vice President of TRC Realty, Inc.-RAD, a Pennsylvania corporation and the sole general partner of RADNOR CENTER ASSOCIATES, a Pennsylvania limited partnership, and who acknowledged to me that he executed the foregoing instrument on behalf of and as the act and deed of such corporation, on behalf of the limited partnership, for the purposes therein contained.

~n ~11IHtn.es5 ;IlIly.er£llf, I hereunto set my hand and official seal.

Notary Public [Notarial Seal]

My Commission Expires:

. ' NO'rARtAL SEAL

~ O . .At.TlMAf\!. Notary PubIc C1ty of Phl!aoophi_a. PffiIa County

, $$On J;~!.E!~~ 'Ia j 997

The Address of the Grantee is:

,c·"'7.,)',r,f:;t "~r-- { < 0' :·.t .. ",I '1<' ''7'''"1 }'

j"/I P·<{-,·,_'t-'..;u ... ··~....,.. ';' ,r}J~"'_ ..,G~.)~~ ~::;:,·vlt;,,,,,,,;at.

. 301 Iven Avenue

Wayne, Pennsylvania 19087

On Behalf of the Grantee

- 4 -

VOLll L~ 70 PO!O 3 I 9·~

When recorded please return this Easement Agreement to:

Reese A. Davis, Esquire

Davis Bennett Spiess & Prendergast 130 West Lancaster Avenue POB 191 Wayne PA 19087

DM . _If y./

LLP

EASEMENT AGREEMENT

. ! ~

This Easement Agreement made this 1/1/1..- day of (_}-.:_l""/:/E.k2r r

7~~7, by and among the SCHOOL DISTRICT OF THE TOWNSHIP OF RADNOR (hereinafter called "Districtlt) t the TOWNSHIP OF RADNOR (hereinafter called "Grantor") and JOHN FOX HAYES, JR. AND LESLIE N. HAYES, husband and wife (hereinafter called "Grantees") .

WIT N E SSE T H

T HAT:

WHEREAS, District is the owner of a certain parcel of land located in Radner Township, Delaware County, Pennsylvania, known as 401 King of Prussia Road and mere particularly described in Exhibit ~ A attached hereto and made a part hereof (hereinafter called the !'2

"School Propertylt);

~ WHEREAS, .~ located near

~ Pennsylvania, :;; Parklt);

Grantor is the owner of a certain parcel of land Gulph Creek Road, Radnor Township, Delaware Ceunty, known as Harford Park (hereinafter called "Harford

~ WHEREAS, Grantees are the owners of a certain parcel of land

..

m located in Radnor Tewnship, Delaware county, Pennsylvania, known as

S 206 Wyndom Lane and mere particularly described in Exhibit B

z

ffi attached hereto. and made a part hereef (hereinafter called the

m

Ul "Hayes PropertyJf);

~

o

u, WHEREAS, a pertion of a private read knewn as Hares Lane

o extends through the Scheel Property in a southwesterly directien ~ from the southern terminus ef the boundary line between the Scheel t Preperty and preperty nowewned by Richard Gwinn and Brita Gwinn ~ and known as 288 Hares Lane (the "Gwinn Preperty") to. King ef ..J Prussia Read. Said pertien of Hares Lane is identified as Old

Hares Lane on Exhibit Cattached hereto and made a part hereof, is des~ribed in Exhibit D attached hereto. and made a part hereef and is nereinafter called IIOld Hares Lane";

'WHEREAS, Grantees have used Old Hares Lane as a means of ingre·S$ and egress to and frem the Hayes Property and King of Prussia Road;

WHEREAS, District intends to erect a public school building on and to. otherwise use the School Property in such a manner that Old Hares Lane will no lenger be available for use as a means of ingress .aIld egress to. and from the Hayes Property and King of Prussia Roa$l,;

RD BK02662-1174

2003011835 01131120030911:37 AM:1

ReD FEE: $80.00

DM.OEEO M1SCELIJ'INEOUS

-1-

1111111111111111111111 /1///11/11/1111/11111111111111111/1111

36·RADNOR $0.00 THOIIIAS~, ~UDGE SI!. R

" 00

DEIJ'IWARE COUNTY

WHEREAS, Grantees are willing to extinguish and terminate for all time hereafter whatever rights they may have to use that portion of the existing Hares Lane referred to herein as Old Hares Lane, Grantees, however, to continue to retain whatever rights they now have to use the remaining portion of the existing Hares Lane for the entire distance it exte~ds in a generally easterly direction from the southwestern boundary line of the Gwinn Property; and

WHEREAS, Grantor is willing to provide Grantees with a means of ingress and egress to and from Gulph Creek Road as hereinafter set forth.

NOW, THEREFORE, with intent to be legally bound and in ~ consideration of the mutual covenants set forth hereinafter, the ~

parties hereto agree as follows: if;

~ 1. Grantees hereby declare, affirm, state and agree that ~ whatever rights they may have to use that portion of the existing m Hares Lane referred to herein and on Exhibit C hereto as Old Hares [ Lane (as described in Exhibit D hereto) as a means of ingress to or ~ egress from the Hayes Property, or for any other purpose ~ Whatsoever, are hereby abandoned, extinguished and terminated, and I they further agree that they shall not hereafter have or claim to E have any right to use that portion of the existing Hares Lane ~ referred to herein and on Exhibit C hereto as Old Hares Lane (as

described in Exhibit D hereto) for any purpose Whatsoever, whether

'"

~ by way of a claim to an easement, I license or other servitude or by

~ way of any other claim whatsoever. Grantees shall retain whatever o rights they now have to use the remaining portion of existing Hares ~ Lane for the entire distance it extends in an easterly direction ~ from the southwestern boundary line of the Gwinn Property.

2. Grantor hereby grants to Grantees, their heirs and

assigns, the non-exclusive right, privilege and liberty, in common with Grantor, and other persons and entities lawfully using the same, to use the presently existing driveway or passageway leading from Gulph Creek Road to and through Harford Park solely for the purpo.se of vehicular and pedestrian ingress and egress to and from Gulph'\. Creek Road and the eXisting portion of Hares Lane which extends in an easterly direction from the soutnwestern boundary line of the Gwinn Property.

3. It is understood and agreed that the easement granted hereby by Grantor is for the benefit of Grantees and future owners of the Hayes Property only during the period of time Grantees or future owners of the Hayes Property remain owners of the Hayes Property. It is further understood and agreed that the benefits of

~2-

this easement may not be assigned by the Grantees or future owners of the Hayes Property except in connection with a conveyance of the Hayes Property.

4. Subj ect to the limitations set forth in Paragraph 3 hereof, this Agreement shall be binding upon and shall inure to the benefit of the heirs, executors, administrators, successors and

assigns of the parties hereto. . .

IN WITNESS WHEREOF, the parties hereto have entered into this Easement Agreement as of the day and year above written.

SCHOOL DISTRICT OF THE TOWNSHIP OF RADNOR

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COMMONWEALTH OF PENNSYLVANIA)

SS

COUNTY OF DELAWARE )

On O~he,..,..- If I ZOO"2-, before me, the undersigned

officer I personally appeared JOHN FOX HAYES, JR. and LESLIE N. HAYES, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument and acknowledged that they executed the sarne for the purposes therein contained.

IN WITNESS WHEREOF. I have hereunto set my hand and official seal.

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~

ary Public

Commission Expires: z/9/01

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Notarial Seal,:

Jillian M. Nelson, Notary Public Philadelphia, Philadelphia counlX" My CommIssion Expires Feb. g, 2w4 ,

Member, Pennsylvania Association ot Notaries

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~ COMMONWEALTH OF PENNSYLVANIA)

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.l'i COUNTY OF DELAWARE )

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~ On IJ OJ ernbe.< .:':J\ , ,:)w-;;>., be fore me, the unders igned :ff officer, personally appeared jaN-....e.~ m IJ, c?( CL. who acknowledged ~ himself to be the President of the BoarU ot Commissioners of the

Township of Radnor, a corporation, and that he q.s such President, be11ilg authorized to do so, executed the foregoing instrument for t.he.. purposes therein contained by signing the name of the corporation by himself as President

\~\

. IN WITNESS WHEREOF, I have hereunto set my hand and official

seal. \

\\lL~I<~

Notary Pub ~c ~

My commission Expires:

Notarial Seal

Maryann K. Cassidy, Notary PUblic Radnor Twp., Delaware County My Commission Expires July 23, 2006

COMMONWEALTH OF PENNSYLVANIA) SS

COUNTY OF DELAWARE )

On --::Yt'nLCt llj \ '-\- , .;<co~, before me, the undersigned

officer, personally appeared O~s.e F: ~b<;:;o~ who acknowledged himself· to be the President of the Board of School Directors of the School District of the Township of Radnor, a corporation. and that he as such President, being authorized to do so, executed the foregoing instrument for thEi purposes therein contained by signing the name of the corporation by himself as President

IN WITNESS WHEREOF, I have hereunto set my hand and official seal.

~d&,~5~

Notar Public'

My Commission Expires:

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Notarial Seal

Virginia B. Campbell, Notary Public Radnor Twp., Delaware County

My Commission Expires Peb. 25, 2006

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-5-

ALL THAT CER T AlN lot or piece of ground with the buildings and improvements thereon erected. Situate in Radnor Township. Delaware County. Pennsylvania. 'bounded and described according to a Survey prepared by Momenee Survey Group, Inc .• Professional Land Surveyors of Bryn Mawr, PAt dated January 16. 1997 and last revised February II, 1998.

BEGINNING at a point formed by the intersection of the. center line of King of Prussia Road as laid out 33 feet wide and the Southeasterly side of a Pfivate Road extended as laid out at the width of 40 feet called Hares Lane; thence extending along the center line of King of Prussia Road North 21 degrees 53 minutes 28 seconds West 520.81 feet to a point; thence leaving said road by land now or formerly of Janet Zansky and also by land now or formerly of Stephen F. Fisher and Thalia E. Fisher North 67 degrees 55 minutes 31 seconds East 366.01' to a point; thence still by land of Fisher the three following courses and distances: (1) North 16 degrees 41 minutes 29 seconds West 12.50 feet to a point; (2) North 67 degrees 55 minutes 31 seconds East 200.00 feet to a point; (3) North 16 degrees 41 minutes 29 seconds West 14.50 feet to a point; thence still by land of Fisher and also by land now or formerly of Richard Gwinn & Brita Gwinn North 67 degrees 55 minutes 31 seconds East 456.07' to a point; thence still by land now or formerly of Richard Gwinn & Brita Gwinn South 24 degrees 05 minutes 07 seconds East 214.82 feet to a point in the center line of Hares Lane; thence along said center line the (3) three following courses and distances: (1) along an arc curving to the left having a radius of 1,610 feet and an arc distance of 308.67 feet (the chord of South 29 degrees 56 minutes 41 seconds West 308.20 feet) to a point of reverse curve; (2) along an arc curving to the right having a radius of 460.00 feet and an arc distance of 275.07 feet (the chord of South 42 degrees 41 minutes and 00 seconds West 271.00 feet) to a point of compound curve; (3) along an arc curving to the right having a radius of 1,525 feet, an arc distance of 200.7S feet (the chord of South 64 degrees 41 minutes 00 seconds West 200.60 feet) to a point; thence South 21 degrees 29 minutes 00 seconds East 20.00 feet to a point on the Southerly side of Hares Lane; thence along the southerly side of Hares Lane by land now or formerly of Radnor Township South 68 degrees 31 minutes 00 seconds West 345.30 feet to the first mentioned point and place of beginning.

CONTAINING 10.839 acres of land be the same more or less.

"\

EXHIBIT A

ALL THAT CSRTAIN lot Of paJ'CI. ,;" kind, shuate In the st.edMslcn'knOwn •• tHe ydt.wtg Tract.ln RadnarL~I"DaI8wete County., PannsyIY.,fa. boUnded and o~bed,~fng lCi;.""PJan by~n. ,~~;·CMI,q ..... anc:I Jand ~i tlUlJif."F1nIiI SIte ~tant •• dated June 3 .. 1884;IaIU8vlsad Nc:MImbar22, 1995.

,and,reCCfditd Imrriedialaly priarto this deed. '88 foNawa to-Wit: .

. .'.. : . ~ .' .. " '. '" .

"~ ~t8'~ the ~ moat ,comer of Mid lat. &aid point lying

. ·on~~~,I~"1t;:;I.,41nd S'ar .. fd .ubdMeion~NirtOlheoom~Ofthe'euJ de ~ or,WjridOm.~:(ridU.$),fMt); kM.wfng said osnter point tdOr1g __ . or fot2 of _id aWdMJtori South eo.'dtIg,.... 04 mJnultta ~OtJ eec:ond.!Ut eo~oo fee{-tg a point on ,U'tCI.OUth,tItattm. rtoni Of way,Of Hid une~,:~ lOVing _ right Of W1lY'alct1f1 aaid boJ 8outh'.30:~'04' mih .. ~ 'secondsl!ut 243..89 fHt to. point; thence

. ."C!:tG the ~.North, ~~ 2&.mlnutit. OS aeccricJI & •• ,224.&1 feel to'a pOint on 'line Of fMdS',now'tw'fOImel'ty at MiChaf. MIItrfnf<o° thenr:e along aaicf fana. and otoMi 'ttte .Wai8ti!iiTr rJght' til :Wtr; 'of Hanta L ..... (varIable ~th) South,28 degree. 09 mtnute.1"rtJ ~, ~. Sait" ~~12 fOot to .' pOInt fn ~ 'Of HiroO 'L.anO; thOnco along 'the bed of said. Lri,.SOUIW37' ',i;legi_ 52 mlnutu 24 ser.."'.Xlds .W_ 1,5t.4a feel to a "oInt; them. 'alOng tHe eam. Notth "- do;nMI'.21 minute" 28 aeccndI We. 7.91 feet to a point,.thenCe.lldng ~ .... 80Urh G degr88l25 mJnuret 47.laeon. West 193.30 f8et to a point; tha~'''q Ih8 ,same South eo de9rae1 18 minutes'2B S8OIOnds ~ 36.-40 ,eM., to ' " ~tnt mil,.. Of,lancf. of Lot 4 Of slid ~bdiViIjon: thOncI' , .. Yin; 1M 'btJd of H .... t...; Q"OI:Ifirtg o-itJr ~ Hare. Lati'.r1ght tJ1~I' along .. Id tartfD North 12 ~ 00 mirtuttf. 4S teconda Welt 478.38 feet to • point thOnoe llong th6 am. and ctoaln; afCntaaiCS vvynctom Lan. right of way NOrth 30 d ...... 04 MinUtes 00 JMIICOnda West 120.00 feet to the fif'St mlWltioned point .nd pi..:. of 1Jm1llNlNtJ.

1=0 I/o No. s~~o #- -0 I q q '7 -'73

EXHIBIT B

j

.;

EXHIBIT C

OLD HARES LANE RADNOR ELEMENTARY SCHOOL

RETTEW

AI.OCtAl ... IHC.

.:1020 CGI.I'IIb!o A .... L""c .. t". PA 11~Ol ttl (711) JH-J721 • fAX (71n 394-1053

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I .__

ARES LANE EXHIBITS

ORA""" BY: T.C.M.

DATE: 5/10/99

SCALE: '-.'20'

OWG. NO. 972602-01

ADNOR TOWNSHIP

DELAWARE COUNTY PA

Description of a portion of Hares Lane to be abandoned Radnor Township School District

Radnor Township. Delaware County, Pennsylvania

ALL THAT CERTAIN strip of land extending northeastWard from King of Prussia Road (SR 1021), north of Matson Ford Road (SR 1038) in Radnor Township'. Delaware County, Pennsylvania; comprising a portion of Rates Lane to be abandoned, as shown on a plan prepared by RETTEW Associates.Tnc. dated May 14. 1999~ Drawing Number 972602-01, and being more fully bounded and described as follows:

BEGINNING AT A POINT on the centerline of Hares Lane, a corner of land of Radnor Towuship School District; thence extending along the centerline of Hares Lane and along land of Radnor Center Associates the following two courses and distances: 1) on a line curving to the left having a radius of 1610.00" an arc distance of 308.67\ the chord of said arc being S 29° 56' 41 n W, a distance of 308.20' to a point, and 2) on a line curving to the right having a radius of 460.00' f an arc distance of 235.07'. the chord of said arc being S 40° 11' 30" W. a distance of 232.52' to a point; thence contimring along land of Radnor Center Associates S 25° 16' 20~' E> a distance of 20.29' to a point; thence extending through land of Radnor Township the following two courses and distances: 1) on a line curving to the right having a radius of 480.00\ an arc

. .

distance of 38.26\ the chord of said arc being S 57<:1 31' 52H W, a distance of38.2S· to a point, and 2) on a line curving to the right having a radius of 1545.00\ an arc distance of 203.38'. the chord of said arc being S 64° 41' 00" W. a distance of 203.23' to a point; thence extending along land of Radnor Township S ose 31· 00" W, a distance of 328.74' to a point on the east right-of> way line oiKing of Prussia Road (33' wide); thence along the same N 21 ° 53' 28" W. a distance of 39.88' to a point; thence extending through land of Radnor Township School District the following four courses and. distances: 1) N 68° 31 tOO" E. a distance of 329.08' to a point, 2) on a line curving to the left having a radius of 1505.00', an arc distance of 198.11', the chord of said arc beingN 64<:1 41' 00" E, a distance of' 197.97' to a point. 3) on a line curving to the left having a radius ~f.440.00\ an arc distance of 263.12', the chord of said arc being N 42C1 41 ~ 00" E. a distance of159.22' to a point, and 4) on a line curving to the tight having a radius of 1630.00\ an arc distance of324.2S·, the chord of said arc being N 300' 09~ 04" E, a distance of 323.72' to a

" .

point in line of land, now or late. of Richard and Brita Gwinn; thence along the same S 24° 05' 01" E. a distance of23.16' to the point and PLACE OF BEGINNING.

11:\97\97'1.QOIO I \De~l::riptlon of Old Hares Lane.dOI;!

EXHIBIT D

TOTAL P.B2

-.~,

FIRST SUPPLEMENT TO

COVENANTS, RESTRICTIONS AND EASEMENTS AGREEMENT

THIS FIRST SUPPLEMENT TO COVENANTS, RESTRICTIONS AND EASEMENTS AGREEMENT (the "First Supplement") is made as of Decemberl.9_, 2000, by and among RADNOR CENTER ASSOCIATES, a Pennsylvania limited partnership ("RCA"), the TOWNSHIP OF RADNOR, a Home Rule Charter Municipality in the County of Delaware, Commonwealth of Pennsylvania ("Township"), and the SCHOOL DISTRICT OF THE TOWNSHIP OF RADNOR, in the County of Delaware, Commonwealth of Pennsylvania ("D istrict"),

BACKGROUND

A. Reference is made to a certain Covenants, Restrictions and Easements Agreement by

and among RCA, the Township and the District, dated as of August 16, 1999 and recorded in the Office of the Recorder of Deeds for Delaware County, Pennsylvania, on March 7, 2000 in Volume 1988, Page 1022 et seq. (with a Consent and Joinder thereto by Mortgagee having been recorded in the Office of the Recorder as aforesaid on April 7,2000, in Volume 2000, Page 719 et seq.) (the "Agreement"). Capitalized terms, when used in this First Supplement without separate definition, will have the same respective meanings as in the Agreement.

B. RCA, the Township and the District wish to clarify, supplement and amend the

Agreement in certain respects, all as hereinafter set forth.

AGREEMENTS

In consideration of the foregoing and of the covenants and conditions hereinafter set forth, and intending to be legally bound hereby, the parties hereto agree:

1. Restoration of Disturbed Areas. District, at District's own cost and expense, will

cause all disturbed areas on or about the RCA Tract promptly to be restored and re-landscaped in accordance with a landscape plan approved by RCA, and in all cases consistent with the quality and extent of the existing landscaping now located on the RCA Tract. The areas so to be covered by this undertaking include all areas that are disturbed on or about Centennial Drive, the RCA School Tract Parking Lot and the RCA Tract generally, including all areas that are covered by the intended Road, Traffic Signal and Centennial Drive Entrances Improvements and all areas that are the subject of a temporary construction easement.

2. Time Schedule. All improvements and other work on or about the RCA Tract

(particularly, but without limitation, the areas that are described in the foregoing Section 1) will be commenced by District and then substantially completed within one or more separate sub-Time Schedules, each of which is first reasonably approved by RCA, that are designed to commence, perform and complete the work in an efficient manner and in a manner that will cause the least possible disruption to the tenants, other invitees and operations of and about the RCA Tract. Without limiting the generality of the foregoing, all work associated with the intended Road, Traffic Signal and Centennial Drive Entrances Improvements (a) will be scheduled during periods other than

J:\WPDA T A\LEGAL\RADNOR\RCA \sCHOOL\ 1 sUPP.co 1

REV. 11127/00

the months of November, December, January or February, and (b) will commence and then be performed and fully completed in the shortest possible respective time periods.

3. Vehicle Loop Detection System. The description of, and specifications for, the

Vehicle Loop Detector System (Exhibit 12 to the Agreement) are supplemented and revised to permit and authorize the District to install, maintain and operate the following vehicle counting system, as more fully described in written materials delivered by Traffic Planning and Design, Inc. under its transmittal dated July 31, 2000, a copy of which is attached hereto as Exhibit 12A:

Intersection's Model TLS-l Traffic Logging System, furnished by Intersection Development Corporation. Authorization to install, maintain and operate the foregoing system is given with the understanding that such system is adequate to perform the tasks and provide the information contemplated by the Agreement.

4. Road, Traffic Signal and Centennial Drive Entrances Improvements. All as

more completely set forth on Exhibit 15A hereto, it is specifically understood, acknowledged and agreed that the Road, Traffic Signal and Centennial Drive Entrances Improvements (Exhibit 15 to the Agreement) incorporate and encompass each of the following: (a) installation of computerized traffic signalization and timing systems at the Township's intersections in the area of the RCA Tract and the School Tract, and (b) restoration of the improved areas with 81t reveal (upright) curbing and appropriate landscaping.

5. Effect. Except as expressly clarified, supplemented or amended hereby, in all other

respects the Agreement will continue in full force and effect without change and is ratified and confirmed.

IN WITNESS WHEREOF, the parties have executed and delivered this First Supplement as of the date and year first above written.

RADNOR CENTER ASSOCIATES

By: The Rubenstein Company, L.P., a Delaware limited partnership, its General Partner

By: TRC Realty, Inc.-GP,

a Pennsylvania orporation,

its Managi Pa

~~£

By:

u enstein Chairman

Secretary

J:\ WPDA T A ILEGAL IRADNORIRCA ISCHOOLII SUPP.COJ

- 2 -

REV. 11/27100

ATTEST:

J;\ W?DA T A \LEGAL \RADNOR\RCA \$CHOOLllSUPP,CO!

TOWNSHIP OF RADNOR

By:

SCHOOL DISTRICT OF THE TOWNSHIP OF RADNOR

By:

President Board of School Directors

- 3 -

REV. ! 1/27100

STATE OF PENNSYLVANIA

ss.

COUNTY OF PHILADELPHIA

ON TIDS, the!l±h day of December, 2000, before me, a Notary Public for the State and County as aforesaid, the undersigned Officer, personally appeared Mark E. Rubenstein, who is either known to me or identified satisfactorily, as the Chairman ofTRC Realty, Inc.~GP, a Pennsylvania corporation and the managing general partner of The Rubenstein Company, L.P., a Delaware limited partnership and itself the sole general partner of Radnor Center Associates, a Pennsylvania limited partnership, and who acknowledged to me that he, being authorized to do so, executed the foregoing instrument on behalf of and in the capacities stated above, for the purposes therein contained.

IN WITNESS WHEREOF, I hereunto set my hand and notanaI seal.

] i;

[NOTARIAL SEAL)

My Commission Expires:

Notary .h:>rib lie

)

-' NOTARIAL SEAL

THERESA M. WALl., Notary Public Clty of ~hll~delphia, Phila. County My CommiSSion Expires July 29, 2002

.~

J:\WPDA TA \LEGAL\RADNOR\RC A \SCHOOL\I SUPP.CO!

REV. 11127100

STATE OF PENNSYLVANIA

ss.

COUNTY OF DELAWARE

ON THIS, the lq'th day of December, 2000, before me, a Notary Public for the State and County as aforesaid, the undersigned Officer, personally appeared James M. Pierce, who is either known to me or identified satisfactorily, as the President of the Board of Commissioners of the Township of Radnor, a Home Rule Municipality, and who acknowledged to me that he, as President being authorized to do so, executed the foregoing instrument on behalf of the Township of Radnor as such officer, for the purposes therein contained.

IN WITNESS WHEREOF, I hereunto set my hand and notarial seal.

[NOTARIAL SEAL]

My Commission Expires:

Notarial Seal

Concetta R. Cla.yton, Notary Public Radnor Twp., Delaware County

My Commission Expires Aug. 22, 2003

Member, Pennsylvania Association of Notaries

J:\ WPDA T A \LEGAL\RADNOR\RCA \SCHOOL\! SU PP .CO I

REV. 11/27100

STATE OF PENNSYLVANIA

ss.

COUNTY OF DELAWARE

ON TIDS, the J1_ day of December, 2000, before me, a Notary Public for the State and County as aforesaid, the undersigned Officer, personally appeared Paul Yakulis, who is either known to me or identified satisfactorily, as the President of the Board of School Directors of the School District of the Township of Radnor, and who acknowledged to me that he, as President being authorized to do so, executed the foregoing instrument on behalf of the School District of the Township of Radnor as such President, for the purposes therein contained.

IN WITNESS WHEREOF, I hereunto set my hand and notarial seal.

INOTARIAL SEAL]

My Commission Expires:

J:\ WPDA T A\LEGAL\RADNOR\RCA \SCHOOL\] sUPP.CO!

REV. 11/27/00

July 31, 2000

Mr. Mark Rubenstein Rubenstein Company 2005 Market Street 41st Floor

Philadelphia, PA 19103

A Philadelphia 100 Fastest Growing Company.

(1998. 1999)

Re: Radnor Elementary School Vehicle Count System

Radnor Township, Delaware County, P A TPD#2313.E

Dear Mark:

Based on previous discussions, you stated the newly proposed vehicle count system (TLS-1 by the Intersection Development Corporation) would be acceptable if it supplied the same information as the original proposed system (Econolite ASC controller). The TLS-l vehicle count system will record vehicle volumes from the parking area adjacent to the school and report this information to a computer within the principal's office. Hard copies of the recorded volume information will be available to you for printout from this computer. A brochure describing the TLS-1 system is enclosed.

The School District has indicated they would like to have a letter in their file that confirms your acceptance of the newly proposed system before they purchase it. Therefore, I have prepared and attached a draft letter that confirms your acceptance of the system.

Sincerely,

TRAFFIC PLANNING AND DESIGN, INC.

~oZfr-e-__

Kevin L. Johnson, P.E.

President

Enclosures

Cc: TPD File

EXIDBIT 12A

Pottstown. Pennsvlvania

InterseCtion De"elopm~ni'

co R p. 0 RAT I ON

Model TLS-1

Traffic Logging System™

Software:

Logs and Stores Vehicle Counts, Phase/Split Timing & Cabinet Events (SCE) or

Logs and Stores Up To 24 Channels of Vehicle Counts (C24)

Features & Benefits

IDC Detector Systems®

• User~friendly menu-driven software

• 32 bytes internal program/data

memory

.. 28 input channels

• Low-cost way to obtain data

.. Easy hookup in traffic cabinet e. "Watchdog" timer monitor

,. Data retrieval in field or office (only a cable and laptop PC required)

• Data/program/clock protected witt1 10 year Lithium battery backup

• All digital timing functions have 0.005 second resolution

.. Input interface draws no power from controller +24 VDe supply

• Can be used in either NEMA or 170 cabinets (meets NEMA input level specifications)

• Small size: 5" W x 1.5" H x 5.25" t: {12.7 x 3.81 x 13.33 cm

119f981US

Traffic Logging System and Detector Systems are registered trademarks of Intersection Development Corporation.

, !

Specifications Model TLS~1

T Hardware Specifications

• The Traffic Logging SystemThl (TLS~1) hardware shall consist of a microprocessor unit to collect, time stamp, and store data in an unattended manner. After the data collection, the unit's stored data shall be uploaded to a personal computer via an RS232 cable.

• The unit shall be 5" W x 1.5" H x 5.25" deep. The unit shall have an overlay or silkscreen identifying the connectors, pinouts, and functions. An LED indicator shall be visible to indicate power.

T Operation

• The unit shall accept a new operating program, operational parameters, and the date and time from a download with a personal computer via an RS232 cable. Replaceable proms to change the operational program shan not be acceptable. After a download, data collection shall be automatic and not require an operator to reset or start operation once the unit is plugged into an interface harness. The unit shall automaticany start collecting data of the type and method selected at the correct time, based on the operational parameters selected at download.

• These include:

...J Type of data collection: any combination of count, split, or event logging .

..J Sample intervals of 5, 15,30, and SO minutes.

..J Collection of split data in total for sample interval or by cycle .

..J Selection of reference input for spJiUcycle data collection .

...J Month, day, year, day of week, hour, minute, and second information.

• The unit shall not lose stored data from an interruption of power; only the current sample being collected shall be affected. After a power interruption. data collecting shall automatically start at the proper time. At the start, and if a power failure occurs, the restart of data collection and time shall be logged.

• Monitor will inhibit operation if the internal logic supply falls below minimum operating requirements. The unit shall have an internal timer (watchdog timer) that will reset the unit upon failure of the software to properly execute.

T Input Interface

• The unit shall have 28 inputs that interface directly with NEMA logic levels (TS-11982). Input signals shall not be recognized for at least 65 milliseconds. The unit shall generate its own internal bias voltage for the inputs with only a connection to logic ground required.

• Inte~~e connection shall be with a male 37~pin D subminlature connector and mate with a female 37 -pin D subminiature connector on the cable side. The connector retainer shalf be a TRW/Cinch super D snapon type.

• The cable harness shall be 48" (121.9 cm) long and wired for all 28 inputs. All wires shall be labeled with the input channel number 1 to 28 and number 29 for ground wire.

• Power shall be supplied by a UL approved and listed plug~in Class 2 transformer, with the low voltage output connected to pins 36 and 37 of the interface connector. The output shall be 9 VAC at 500 rna. max.

T Serial Interface

• The unit shall download and upload directly through a serial cable without having to use an external interface box.

• Serial connection shall be made through a female 15- pin D subminiature connector and mate with a male 15- pin D subminiature connector on the cable side. The connector retainer shall be a TRW/Cinch Super D snapon type.

• The personal computer side of the cable shall be a 9- or 25-pin D subminiature connector, as required.

• The power source for the unit shall be a UL approved and plug~in transformer and d.c. power supply I provided as an integral part of the serial cable. The d.c. output shall be 9 VDC at 600 rna. max.

'Y Software Specifications

• The Traffic Logging System ThI personal computer software shall provide the operator interface to the TLS- 1 hardware. The software shall be menu-drive and userfriendly.

• The personal computer software shall provide for:

...J Download to initialize the TLS~ 1 hardware with its operating program, type, and method of data collection. ...j l)pload of data collected by the TLS-1 and storage to disk.

..J Output of data file to printer, text file, or monitor.

"" Graphic display of data on an EGA or VGA cotoi

monitor with day and week graphs.

"" Selective listing of data files by month and year. ..J Color or monochrome display operation.

...J Display of operation manual from within the program ..J Sample periods of 5, 15,30, and 60 minutes.

...J Communication via RS232 port direct or via telephom using a modem.

• Two Software packages available:

TlS-1..sCE

..J Split logging of eight data channels with either totr by interval or by cycle.

..J Count logging of eight data channels . ..J Event logging of twelve data channels.

TlS-1-C24

'" Traffic count storage for up to 24 channels.

'" Can be used with any type of detector which provides an isolated contact closure.

'" When connected to a computer, it will provide a realtime display of date, time, options selected, number of samples logged, input channel actiVity, and count value.

T Pin Assignments: Interface/Power

PIN FUNCTION PIN FUNCTION
1 Input #1 20 Input 1120
2 Input #2 21 Input #21
3 Input #3 22 Input #22
" Input #4 23 'nput 1123
5 Input 115 24 Input 11124
6 InputNG 25 Inp.ut N25
7 Input .7 26 Input 1#26
8 Input #8 27 Input N27
II Input ItO 28 Input 11128
10 Input.10 29 Logic: Ground
11 Input .11 30 Logic: Ground
12 Input 1112 31 LogiC: Ground
13 InputN13 32 L.ogic Ground
14 Input 1114 33 Logic Ground
IS· Input.,5 34 Logic Ground
16 input 1116 35 logic Ground
17 Input 1117 36 Low Voltage AC/DC IN
18 Input#18 37 Low Voltage AC/DC IN
1S Input 11'9 SERIAL I/O
PIN FUNCTION
1 Data Input
2 Data Outpul
3 Program Load Input
4 Special Output
5 Spacial Output
6.9,10,11,12,13 Ground
IS +DC Power MAR-15-00 18,11 FROM'SAUL EWING REMICK SAUL

10, 16108515930

PAGE 3/8

Mr.leff LUdwig Gilbert Archir1xn

626 N. Cbaxlotte Street . I..ancastet, PA '17603

RE: Radnor EleIoeD.Wy School Supplemen!a1 Agteemeta (RCA Tract) Ptojett No. 9126()2..O1

.Dear. Jeff~

As requested. I have reviewed 1he ag:eemeat from The ~ Company dated }.farch 3~ 2000. The agreero.cnt tefeteDces restoration of distutbed and ro-J8Ddscaped areas in aQXtl.'daDce with the 'landscape plan approved by RCA.. While there is DO mention. of the date of fhr; plan approved by RCA, I will ~!hey are referenciug the Construcdoo.l>oc:umem pIan. set. The areas that require ~Oll and ~ for me work petfouned by RET'IBW is $bOwn 011 sheet SOP-10.

.

Additionany ~ it is our und'erstandiDg that all' existing landsl:aping to be: ~ relocated. repl~ or removed will be done ':f part of ~ tJHl1I elemealllY schoo) tOJIStnlCdoa as it relates to the RCA ttaet. Any materials that are tQ be impaded " sball be moved and/or replaced UHdnd to the satisfaction of The Rubenstein Company.

If you shoold have anJ additional ~ please feel free: to call tn$..

EXIDBIT 15A

TOTA.. P.B2

MAR-15-00 18.11 FROM.SAUL EWING REMICK SAUL

10,16108515930

PAGE 4/6

,

RtullWr CertterlllmltwT TOWlIShq, Sc1wol District CoottlbultiOIl. Schedule R4t:bt.ar EletnUllrl1'y Schaol

RCM ProJ~ No. 99-1121

e-"

1imB2.o Coatml .. ErosioJi and. ~n COI11I01 measures to< be .insta1led thronghout the site as requixed by Erosion and Se4i:.nentation Plan SDP-6.

2. Tree ~n - Tree protection bmier feoclng shaR be placed at various loeeJ:ious to ptOfI:ct land ~ and wildlife along 1Jans !.aDc and CeutemUal Drive: and as required to Q)mply with the erosion and scdimenta1ion contcoI plan.

3. Tmc Rclosaticm .. Fo~ tnlClgtec:o.1rees ~ be temoved awl ~ fro.tn the edstiDg edge: CJf Centetmiel Drive to 'behind the new edge of Centennial Drive which has ~ relocated to &C(;011lJIlOdatt; access to the bus loop.

4. Cutb Cut '" TiS?-ln; Centsamial QJiye am! Bys.Locm ... F..xisling Cen1mniaI Drive to be modified. to acoommodatx:: the Bus Ibop_ RUsting curb shall be I;Ut and removed and new curb shall be placed at the se10cated Cemenmal DJm. :Painted pavement D:larJcings and ttaffic signs shall be insbilled as required by the PenDsylvania~ofTJ8DBPOrlatioa..

S. ~ ,.FOJd Road MC\difi~_j?ation .. ~ Matson Ford. .Road/CentcDD.nd Drive Tntersec:tiODS (East and West) shall be modi:6eci The ~ CUt'b, sidewalk DI'Klmedians shall be IeDlovedfmodfficd as IeqUiIed. New cutbin& ~wa1ks, ~edians tmd 1andscaping sha1l be placed as requiml. Painted ptVerDeQt madciags and traffic sigDagelSigDalizatioJl shall be installed as required by the tennlY1VllDia Department ofTnmsportaliOl1..

.

If there is a m01'e con.veaieDt time: for th~ work·to be compJeted for the tmffic d'gnalizatian. or the ~0D3 to ~81 Drive, we will be willing to reschedule thI:sc Klivities to accommodat.e the Corporate Ceuter's wishes.. The

, only cousttaim: we have is an eigbl to firurtcen-weeJc delivery ~ after approval

of shop draWings,. on some of the dgneHtAtiOll ~ ." ! .

. ~ . .; ~.

. . ."

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MA~-15-00 16.11 FROM,SAUL EWING REMICK SAUL

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Man:h 1O~ 2000 Ms.. usa Palme.

Radnor Township Scbool DWrict Admiuis1ration Building

135 South Wayne A'VCIJUe Wayne.PA 190874194

RE: Radnor EIemeuwy School RCA Suppleme:at3l Agreement TDP#2313.C0S2

Traffic PlanDiDg & Design, Inc. o.ff't:rs the following responses to ~ letter by the Rubenstciil Company concemiXlg the Supplement Agreement for Radnot EiementaIy Scbm>1 dated March 3)

2000. .

(e) VdIide Loop .Deteetioa Syriem.. - The description oftbe Vehicle Loop Detector System will inooJpmate fhe ASC'2S contronu specifications and aU specificaLions required ibr its iDstaUanon and. its ability to display daily volume da!a to the Radnor Bletttentaty Schnol and print ha:rd copies of the volume data.

(d) Road, Traf1ie SigUI aud Ceu.teauiaJ llIUe EDtnlDCU Improvements.. - (1) This project will include the signalization of the inteniection of Ncrth Centennial Drlv'e with Matsonfutd Road and the rotimiag and modemizamm or the traffic. signal equipment at the ixJ1ersection of South Centenuial Drive with MatsonfOrd Road. Both. signalized intersectious will be included. in a computerized tnlffio signal synchronization system (Closed Loop System). (2) The improved aIeaS will be ICStored with & inch. nweal curbln& and any landscaping materiaJ,Q removed due 10 the proposed ~ will be xep.Iactd itt kind.

Sin~yl'

TRAF.FIC PLANNING AND DESIGN, INC

w~~

Wayne Dtoeme:r

Traffic SigoalPen:nittin.J Mauager

TOTAL P.0S

THE RUBENSTEIN

COI\I\PANY, L.P.

Executive Vice President and General Counsel

February 15,2001

James M. Pierce, Esq.

37 West Avenue, PO Box 312 Wayne, Pennsylvania 19087

HAND DELIVERY

RE: Radnor Elementary School

Radnor Township. Delaware County, Pennsylvania

First Supplement to Covenants, Restrictions and Easements Agreement dated as of August 16, 1999

Dear Jim:

Enclosed, in furtherance of our recent discussions, are eight counterparts of a suggested First Supplement to Covenants, Restrictions and Easements Agreement (identified with the footnote notation "Rev. 11127100"). Each First Supplement is dated as of December 19,2000, and each has been executed and acknowledged on behalf of the School District and on behalf of Radnor Center Associates. The First Supplement acknowledges, confirms and clarifies certain undertakings by the District under the terms of the August 16, 1999 Covenants, Restrictions and Easements Agreement.

I would be grateful if you would execute (and have attested) all eight counterparts of the First Supplement on behalf of the Township, and then have your signature acknowledged. When fully executed and acknowledged, I suggest that you retain three counterparts for the Township's files, and then return the remaining five to me for distribution. When I receive them back, I will keep two counterparts for RCA's files and for recording, and will distribute the remaining three counterparts to Reese Davis for the District.

Please let me know if you have any questions with respect to the enclosures.

'With continued thanks and regards,

FJF:st Enclosures

J,IWP!)ATAILEGALIRADNORIRCAISCHOOL\PleRCE.OI

4100 ONE COMMERCE SQUARE 12005 MARKET STREET! PHILADELPHIA, PA 19103-70411 (215) 563-3558/ FAX (215) 563-4110

PROPERTY EXCHANGE AGREEMENT

THIS AGREEMENT made as of September 1, 1998, by and between the RADNOR TOWNSHIP SCHOOL DISTRICT in the County of Delaware, State of Pennsylvania ("School District") and the TOWNSHIP OF RADNOR, a Home Rule Charter Municipality in the County of Delaware, State of Pennsylvania ("Township").

WHEREAS, School District intends to construct a new Radnor Elementary School (the "School")' and

, ,

WHEREAS, School District has purchased the Petersen property consisting of approximately eleven acres located at 401 King of Prussia Road, Radnor, Pennsylvania (the "Petersen Tract"); and,

WHEREAS, Township is the owner of approximately five acres of land (the "Township Tract") adjacent to the Radnor Corporate Center ("Corporate Center") and the Petersen Tract; and,

WHEREAS, Corporate Center is owned by Radnor Center Associates, L.P. ("RCA');

and,

WHEREAS, RCA enjoys the benefit of a restrictive covenant preventing any structure on the Township Tract, with a right of reverter if the covenant is violated; and,

WHEREAS, the School District desires to construct the School partly on the Township Tract and partly on the Petersen Tract and to use the western comer of the Petersen Tract for recreational fields and playgrounds, and the eastern comer of the Petersen Tract for public park land; and,

WHEREAS, Township owns land on the east side of Matsonford Road (the "Helipad Tract") which it had acquired from RCA's predecessor; and,

WHEREAS, RCA has an easement on the Township Tract to allow for the parking of vehicles; and,

WHEREAS, Township has an easement over Centennial Drive owned by RCA for ingress and egress to the Township Tract.

NOW, THEREFORE, the parties intending to be legally bound by the terms hereof and for other good and valuable consideration agree as follows,

1. Township agrees to transfer the Township Tract to School District in exchange for

School District's transfer of the remaining acreage (up to 5 acres) of the Petersen Tract not used

543168.] 116199

for School purposes which Township agrees to maintain as a public Environmental Education Park. Both parties agree to give the other a "right of reverter" should at any time the property cease being used for the purposes indicated.

(a) Township agrees to lease that portion of the Helipad Tract used by the

School to the District at a fee comparable to the agreement on Emlen Tunnell Park.

(b) Development of the Environmental Education Park plan and plantings is

the responsibility of the Township. It shall be done in consultation with the Building Administrator and the Parks and Recreation Department and completed in time for the School operung.

2. District agrees to provide Township with a deed restriction against any

construction of any School additions or any use other than for school playgrounds and playing fields.

3. School District and Township agree that there will be pedestrian access from the

Environmental Education Park to the Corporate Center and pedestrian and bicycle trail for the use of tenants and employees of the Corporate Center (see Section 6 below). School District will have exclusive use of the Environmental Education Park and the relocated Hares Lane path from 9:00 a.m. to 3:00 p.m, during the school year.

4. School District agrees to put in adequate plantings and landscaping to be

approved by Township.

5. School District agrees that relocated Hares Lane which intersects with King of

Prussia Road, will remain open for neighbor use, during non-school hours and will be restricted to pedestrian and bicycle use only. In addition the School District will construct a second pedestrian and bicycle trail connecting Hares Lane along King of Prussia Road to the northern driveway for use during School hours.

6. School District agrees to pay for the construction of a driveway leading to King of

Prussia Road for the benefit and enjoyment of the immediate adjacent residence, which driveway would not be connected to the School and will run along the northern border of the Petersen Tract.

7. After completion of construction of the School, School District agrees that there

will be no ingress or egress to the School or the Petersen Tract from King of Prussia Road other than the aforementioned driveway for the adjacent residence.

8. All deed restrictions and easements referenced herein shall be specifically

described and filed of record.

543368,3 116199

2

9. The Township agrees to assume responsibility for the design and construction of

at least a 94 space parking lot on a location mutually agreed upon by the School District and Township and a pedestrian bridge extending from the Helipad Tract to the School. The Township and the School District will each pay 1/2 of the costs for the parking lot and the bridge.

10. This Agreement is subject to the parties agreeing to additional conditions, deed

restrictions and easements that may be required as a result of the rezoning and land development process; land development and subdivision approval; rezoning of the Petersen Tract to PLU; marketability of title; customary prorations; agreement with RCA with respect to those matters set forth in Exhibit" A" to this Agreement; and to the preparation of definitive deeds, easements and other conveyance documents and related agreements to effectuate the terms and intent of this Agreement. Attached hereto as Exhibit "B" is a copy of a letter dated November 25, 1998, from. Michael S. Burg, Esquire, co-counsel to the School District, to Frank 1. Ferro, Esquire, counsel

to RCA, with respect to certain matters concerning this Property Exchange Agreement.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first above written.

RADNOR TO DISTRlCT By:

~~:~~

Clinton A. Stuntebeck, President

54 H6a 3 1/6/99

3

EXHIBIT" A"

1. RCA will remove the deed restriction currently preventing any structures with

right of reverter on the Township Tract and Township will place a like restriction to the benefit of RCA on the non-parking lot portion of the Helipad Tract and will place an open-space restriction on the Environmental Education Park School.

2. RCA will give to the School District an easement for ingress and egress from

Centennial Drive and for school buses only at the eastern entrance to Centennial Drive and along the eastern side of the Corporate Center and then along the northern edge of the Corporate Center to the School Tract. School District agrees to restrict the ingress of all bus traffic to the aforesaid easement and not permit any bus traffic to enter at the westerly entrance of Centennial Drive.

3. School District agrees to do those things necessary to prevent any parking

associated from the use of the School onto the Corporate Center during normal business hours, Monday through Friday.

4. School District agrees to install a "closed loop system" pertaining to the traffic

signals located at the intersections of King of Prussia and Radnor-Chester, and Matsonford and King of Prussia, Matsonford and both Centennial Drive entrances and to be responsible for any restriping and realigning of these roads in order to improve the traffic flow through them.

5. School District agrees to be responsible and to pay for the widening and

improving of the left turn lane from Matsonford Road into Centennial Drive by lengthening the' left ruin lane by restriping, improved signalizing controls and closed loop signal system with the amount of the left-turn time into the Corporate Center to be increased providing for better traffic flow. If additional property is necessary in order to make the aforesaid improvements, Township agrees to allow these improvements to be placed upon the Helipad Tract.

6. School District agrees to be responsible for and to pay for any and aU

improvements necessary to improve the eastern entrance of Centennial Drive to include the cost of signalizing the intersection and planted islands.

7. School District agrees to hold harmless and to indemnify RCA against liability

pertaining, to the allowance for the use of school buses on the Corporate Center resulting from School District's negligence.

54336&.3 1{6/99

EXHIBIT "B"

LAW OFFICES OF

SAUL, EWING, REMICK & SAUL LlP

PKllADELPHIA, PENNSYLVANIA BAl TIMORS, MARYLAND HARRISBURG, PENNSYI..VANIA

1055 WESTLAKES DRIVE, SUITE 150 WESTLAKES OFFICE PARK BERWYN, PA 19312

NEW YORK, NEW YORK PRINCETON, NEW JERSEY

WILMINGTON, DELAWARE

(S10) 251.5050

Fax: (610) 6$1·5930

Internet S·Mall: berwyn@u~I.com World Wide Web: IItlp:llwww .• aul.com

MICHAel S. BURG

Direct D,al: (1l10) 251·5750 Direct Fax: (1l'0) 408·4404 IMarn.t E·MaU: mburgtl!lsaul.com

November 25, 1998

Facsimile #610-688-3887 Reese A. Davis, Esquire Davis Bennett Barr & Spiess 130 W. Lancaster Ave.

P.O. Box 191

Wayne, PA 19087

Facsimile #610-436-0628

Eugene H. Evans, Esquire Goldberg, Malcolm.Evans & Noll 135-137 W. Market Street

West Chester ~ P A 19382

Facsimile #215-563-4110 Frank J. Ferro, Esquire The Rubenstein Co.

4100 One Commerce Square 2005 Market Street Philadelphia, P A 19103-7041

RE: Radnor Elementary School

Gentlemen:

Following is a brief summary of my understanding of certain agreements among Radnor Center Associates, L.P. ("RCA"), Radnor Township ("Township") and the Radnor School District ("District").

544383.2 1f6199

Reese A. Davis, Esquire Eugene H. Evans, Esquire Frank J. Ferro, Esquire November 25, 1998

Page 2

(a) Land to be exchanged by the District to the Township for the Township

five acre parcel at the comer of King of Prussia Road and Matsonford Road will be the land shown in the northwest corner on Plan S40 dated October 21, 1998, identified as "Proposed Nature Center Park," consisting ofless than five acres.

(b) There will be no cap on the number of students attending the Radnor

Elementary School. However, the School size is limited to 94,212 square feet, and no portable or temporary structures will be permitted. The District will expressly agree that RCA may obtain court ordered relief to limit the number of students if other methods of restricting peak hour traffic to 210 vehicles is not successful. RCA has requested assurance that this provision would be enforceable - Reese Davis will review this issue.

(c) Vehicles entering the School Tract may exceed 210 if due to emergency,

and on not more than five other days during a calendar year. The District's obligation to restrict vehicles entering the School Tract during Peak Traffic Hours will be mandatory, rather than best efforts.

(d) The pedestrian bridge will be satisfactory to RCA if designed and built in

accordance with all applicable laws and regulations.

(e) Township and District will enter into a Property Exchange Agreement,

which will be based upon the Land Development Agreement dated September 1, 1998, signed by Township and District. Township will agree that the Property Exchange Agreement creates an equitable interest in the Township five acre tract to permit the District to file a land development application. (A draft has been delivered to Gene Evans.)

(f) The Township will open hearings for the rezoning of the Petersen Tract to

PLU. to be considered concurrently with the land development application to be made by the District for the development of the Radnor Elementary School.

Please let me know immediately if you believe that the above summary is not accurate, or incomplete, in any respect. Of course, the above understandings are not binding upon any party unless incorporated in a definitive agreement. Thank you.

Very truly yours,

Michael S. Burg

MSB/jm

cc: Mr. Arthur R. Lewis (Facsimile #610-971-0742)

John A. DeFlaminis, Ph.D. (Facsimile #610-971-0742)

544383.2 1/6199

REESE A. DAVIS BRIAN E. BENNETT

F. HARRY SPIESS, JR.

DAVIS BENNETT BARR 8: SPIESS ATTORNEYS-AT-LAW

130 WEST LANCASTER AVENUE P.O. BOX 191

WAYNE, PENNSYLVANIA 19087-0191

610·688-6200

FAX 610-668-3887

attorney@dbbs.net

I"ORMI'RLY

GREENWELL PORTER SMALTZ Be ROYAL RoaERT 1'. PORTER

DOUGL.AS D. ROYAL

RenRED

HAROL.D D. GRI'ENWEL.I.

MARY R. SARR

19'03·1997

JAMES E. PRENDERGAST

H. LELAND SMAL.TZ

1900-19-$5

October 15, 1999

Mr. David A. Bashore Radnor Township Building 301 Iven Avenue

wayne, Pennsylvania 19087

RE: RADNOR TOWNSHIP SCHOOL DISTRICT - RADNOR TOWNSHIP PETERSEN PROPERTY - RADNOR ELEMENTARY SCHOOL

Dear Dave:

I have enclosed two signature copies of the First Amendment To Property Exchange Agreement, both of which have been signed by the President and Secretary of the School District.

Gene Evans has reviewed and approved the Agreement, and I would appreciate it if you would have both copies signed by the President and Secretary of the Board of Commissioners and return one fully executed copy to me. Thank you for your assistance.

Very truly yours,

r&--

REESE A. DAVIS

RAD:bh Enclosures

FIRST AMENDMENT TO PROPERTY EXCHANGE AGREEMENT DATED AS OF SEPTEMBER 1, 1998

This Agreement entered into as of August 16, 1999, by and between the School District of the Township of Radnor ("District") and the Township of Radnor ("Township").

WHEREAS, District is the owner of a certain tract or parcel of land located at 401 King of Prussia Road, Radnor Township, Delaware

s-,

§ County, Pennsylvania, containing approximately 10.839 acres, as more particularly described in Exhibit A hereto (the "Petersen g;_

Trace') ;

w z

;;:

~ WHEREAS, Township is the owner of a certain tract or parcel of ~ land located on King of Prussia Road, Radnor Township, Delaware & County, Pennsylvania, immediately adjoining the Petersen Tract to ~ the south containing approximately 10.568 acres, as more ~ particularly described in. Exhibi t B hereto (the "Township Tract") i

In

~ WHEREAS, District desires to construct an elementary school lli and related playing fields and parking areas partly on a portion of W the Township Tract and partly on a portion of the Petersen Tract; ~

Q

~ WHEREAS, Township desires to acquire a portion of the Petersen

Tract for the purpose of developing the same as a public

wuw d

[ environmental park; an

o

~ WHEREAS, since District and Township wish to continue their

..J

cooperative efforts with one another, as in various past

transactions, and desire to enhance their coterminous community and the services provided to Radnor Township residents, District and Township are agreeable to an exchange of a portion of the Petersen Tract for a portion of the Township Tract, so that District may construct an elementary school as aforesaid and Township may develop a public environmental park as aforesaid.

NOW, THEREFORE, with intent to be legally bound and in consideration of the mutual covenants set forth hereinafter, the parties agree as follows:

1. Subject to the terms and conditions hereinafter set forth, Township hereby agrees to transfer and convey to District approximately 5.684 acres of the Township Tract, as more particularly described in Exhibit C hereto (hereinafter referred to as Premises A) .

-1-

2. Subject to the terms and conditions hereinafter set forth, District hereby agrees to transfer and convey to Township approximately three (3) acres of the Petersen Tract, as more particularly described in Exhibit D hereto (hereinafter referred to as Premises B).

3. Premises A shall be conveyed to District free and clear of all mortgages, liens, encumbrances, restrictions, ground rents, leases, claims or rights of use or possession, security interests, covenants, rights-of-way and easements, except for the «Permitted Exceptionsn set forth in Exhibit E hereto; otherwise the title to the said premises shall be good and marketable and such as will be insured at the regular rates by any reputable title insurance company selected by District. Specifically, but not in limitation of the foregoing, Premises A shall be conveyed to District free and clear of the following restriction set forth in a certain deed from Morgan's Run Corporation, as grantor, to Township, as grantee,

~ dated March 8, 1993, and recorded in Delaware County in Deed Book ~ 1470, page 315:

3:

"FURTHER UNDER AND SUBJECT, nevertheless, and as an express

w

~ condition and restriction to the conveyance herein, that PARCEL A,

~ with the exception of the portion thereof covered by the parking

'"

ifl Lot Reservation, shall always be used for public park lands or

ii:

ill public open space, and no artificial structure shall be built or

~ placed inconsistent with this use on PARCEL A (with the exception ~ of the portion thereof covered by the Parking Lot Reservation); and 03

upon the subsequent failure of the condition and restriction set

~ forth herein, and upon the failure to cure such failure of ~ condition and restriction within ninety (90) days after written III notice by Grantor or its successor or assign to Grantee or its ~ successor or assign, then the entire grant, bargain, sale ~ alienation, enfeoffment, release and conveyance made by Grantor by

o

these presents shall become null and void, and PARCEL A and all ~

~ rights in PARCEL B and PARCEL C shall be forfeited by Grantee, its

~ successors and assigns forever and shall revert to Grantor, its ~ successors and assigns, and Grantee, its successors and assigns

..J

shall have no further interest therein."

Township agrees that it will take whatever actions are necessary to have said restriction removed as a restriction on Premises A if settlement hereunder is completed and thereafter an attempt to enforce the restriction is made by any person or entity, such obligation on the part of the Township to survive settlement hereunder.

4. Premises B shall be conveyed to Township free and clear of all mortgages, liens, encumbrances, restrictions, ground rents, leases, claims or rights of use or possession, security interests, covenants, rights-of-way and easements, except for the UPermitted Exceptions" set forth in Exhibit F hereto; otherwise the title to the said Premises shall be good and marketable and such as will be insured at the regular rates by any reputable title insurance company selected by Township.

-2-

5. In the event a good and marketable title and such as will be insured by any reputable title insurance company, subject as aforesaid, cannot be conveyed as to either Premises A or B, the party to whom the Premises in question is to be conveyed shall have the option of taking such title as can be given or of giving notice of termination of this Agreement. In the latter event, neither party hereto shall have any further liability or obligation hereunder and this Agreement shall be null and void.

6. The consideration for each conveyance shall be the nominal sum of $1.00. Should any transfer taxes be imposed and payable on the transfer of either parcel for any reason, such taxes shall be paid equally by Township and District.

7. The parties agree that the existing zoning classification of Premises A and B is PLU.

8. This Agreement and the conveyances of premises A and B \?;

~ hereunder are and will be under and subj ect to all terms and

provisions contained in a certain Covenants, Restrictions and tt

Easements Agreement entered into as of August 16, 1999 by and among

w

~ District, Township and Radnor center Associates.

~

Vl

ta 9. District I s obligations hereunder and the holding of

0::

Vl settlement hereunder are contingent on satisfaction of each of the

following conditions (or waiver by District of anyone or more of such conditions) prior to October 15, 1999:

~ (a). Township shall have completed final, unappealed and

~ unappealable rezoning of the Petersen Tract from R-1 to PLU;

~

~ (b) .

is of Common Pleas Vl terminated in

w

~ unappealable;

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that certain land use appeal pending in the Court of Delaware County at No. 98-16559 shall have been such a manner as to be final, unappealed, and

(c). District shall have received final, unappealed unappealable approval of Ci) the subdivision of Premises B from Petersen Tract; and (ii) the Land Development Plan filed with Township identified as S.D. No. 98-SD-17.

and the the

Cd). Township shall have received final, unappealed and unappealable approval of the subdivision of Premises A from the Township Tract;

(e). District shall have received from all governmental and quasi-governmental bodies and authorities having jurisdiction, including, but not limited to, the Pennsylvania Department of Transportation, the Pennsylvania Department of Education, the Pennsylvania Department of Environmental Protection and the Pennsylvania Department of Labor and Industry, all final, unappealed and unappealable approvals, consents and permits necessary for it to construct an elementary school and related playing fields· and parking areas on Premises A and that portion of the Petersen Tract other than Premises B;

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(f) . District shall have determined, by conducting on Premises A such studies, tests and analyses desired by District, including (without limitation), soil borings and tests, ground water studies and tests, drainage studies and tests and environmental studies and tests, that Premises A is not subject to any condition which would materially adversely affect District's use of Premises A as a site for construction of an elementary school and related playing fields and parking areas. Township agrees that District shall have the right to enter Premises A at any time for the purpose of conducting such studies, tests and analyses and District agrees to indemnify and hold Township harmless from any damage to personal or real property resulting from such entry. If settlement under this Agreement is not held, District shall reasonably repair any damage or injury to Premises A caused by such studies, tests or analyses;

(g). the Covenants, Restrictions and Easements Agreement referred to in Paragraph 8 above shall have been duly approved and executed by the officers of Township, District and Radnor Center Associates; and

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{h}. if District determines it is necessary, District shall have received, final, unappealed and unappealable approval of ~ this Exchange Agreement from the Court of Common Pleas of Delaware ;;:

'" County.

~ No approval, permission or order shall be considered

0\

"final, unappealed and unappealable" wi thin the meaning of this

~ Paragraph unless and until the period for taking an appeal from lli such approval, permission or favorable order has expired without '" the filing of an appeal by any adverse party. In order to obtain § the approvals, permissions and orders and make the determinations IL referred to in this Paragraph, Township and District agree to

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submit, perform and pursue with due diligence the necessary tests,

~ applications, plans and actions. In the event anyone or more of ~ the conditions set forth in this Paragraph have not been satisfied ~ prior to October 15, 1999 (and District has not waived such non-

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satisfaction), District, at its option, may give notice of

termination of this Agreement within ten (10) days after said date, in which event neither party hereto shall have any further liability or obligation hereunder and this Agreement shall be null and void. If such notice is not given this Agreement shall remain in full force and effect.

10. Settlement with respect to Premises A and B shall be held within fifteen (15) days after District gives notice to Township that the conditions referred to in Paragraph 9 hereof have been satisfied or waived. Possession of both Premises shall be delivered at the time of settlement by special warranty deed and by physical possession of the Premises being conveyed. Formal tender of an executed deed is hereby waived by both parties.

11. Any loss or damage to either Premises caused by fire or loss commonly covered by the extended coverage endorsement of a reputable insurance company between the date of this Agreement and the date of settlement shall not in any way void or impair the

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14. This Agreement contains the entire agreement between the parties and there are no other terms, obligations, covenants, representations, statements or conditions, oral or otherwise, of any kind concerning this exchange of properties. Any changes or additions to this Agreement must be made in writing, signed by all parties hereto. This Agreement may not be assigned by either party

if:

without the written consent of the other party. This Agreement

~ shall be binding upon the successors, and to the extent assignable, ~

upon the assignees of the parties hereto.

conditions and obligations of this Agreement and each party shall have the responsibility at its own cost and expense to carry such insurance on the Premises being acquired by such party as said party may deem desirable.

12. It is understood that both parties have inspected the Premises which it is to acquire hereunder and each party has agreed to the exchange of the Premises as a result of such inspection and not because of or in reliance on any representation made by either party hereto which is not set forth herein.

13. This Agreement shall not be recorded in any office or place of public record.

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<II 15. To the extent that the terms of this Agreement are

~ inconsistent with the terms of a certain Property Exchange ~ Agreement entered into by District and Township as of September 1, ill

1998, this Agreement shall control.

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~ 16. All notices required to be given hereunder shall be in

OJ writing and shall be deemed to have been sufficiently given for all ~ purposes if presented personally to the party entitled to such ~ notice or seht by certified or registered mail, postage prepaid, or

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OJ sent by any national overnight courier or delivery service, to such

~ party at its address set forth below:

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District: The School District of the Township of Radnor 135 South Wayne Avenue

Wayne, Pennsylvania 19087

Attention: Dr. John A. DeFlaminis

Superintendent

With a copy to:

Reese A. Davis, Esquire Davis Bennett Barr & Spiess 130 West Lancaster Avenue P. O. Box 191

Wayne, Pennsylvania 19087

Township: Township of Radnor 301 Iven Avenue

Wayne, Pennsylvania 19087 Attention: Robert M. Crofford

Township Manager

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with a copy to:

Eugene H. Evans, Esquire 135 West Market Street

West Chester, Pennsylvania 19382

Such notice shall be deemed to be given when received if delivered personally, two (2) days after the date mailed if sent by certified or registered mail, or one business day after the date sent if sent by any national overnight courier or delivery service for next business day delivery. Any notice of any change in such address shall also be given in the manner set forth above. Whenever the giving of notice is required, the giving of such notice may be waived in writing by the party entitled to receive such notice.

17. Township and District represent to each other that their respective officers who have executed this Agreement have been duly authorized to do so by action taken at public meetings by their respective governing boards.

IN WITNESS WHEREOF, the parties hereto have entered into this

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~ Agreement as of the day and year above written. ~

School

of Radnor

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ALL THAT CERT AlN lot or piece of ground with the buildings and improvements thereon erected, Situate in Radnor Township. Delaware County, Pennsylvania, bounded and described according to a Survey prepared by Momenee Survey Group, Inc., Professional Land Surveyors of Bryn Mawr, PAt dated January 16, 1997 and last revised February 11. 1998.

BEGINNING at a point formed by the intersection of the center line of King of Prussia Road as laid out 33 feet wide and the Southeasterly side of a Private Road extended as laid out at the width of 40 feet called Hares Lane; thence extending along the center line of King of Prussia Road North 21 degrees 53 minutes 28 seconds West 520.81 feet to a point; thence leaving said road by land now or formerly of Janet Zansky and also by land now or formerly of Stephen F. Fisher and Thalia E. Fisher North 67 degrees 55 minutes 31 seconds East 366.01' to a point; thence still by land of Fisher the three following courses and distances: (1) North 16 degrees 41 minutes 29 seconds West 12.50 feet to a point; (2) North 67 degrees 55 minutes 31 seconds East 200.00 feet to a point; (3) North 16 degrees 41 minutes 29 seconds West 14.50 feet to a point; thence still by land of Fisher and also by land now or formerly of Richard Gwinn & Brita Gwinn North 67 degrees 55 minutes 31 seconds East 456.07' to a point; thence still by land now or formerly of Richard Gwinn & Brita Gwinn South 24 degrees OS minutes 07 seconds East 214.82 feet to a point in the center line of Hares Lane; thence along said center line the (3) three following courses and distances: (1) along an arc curving to the left having a radius of 1,610 feet and an arc distance of 308.67 feet (the chord of South 29 degrees 56 minutes 41 seconds West 308.20 feet) to a point of reverse curve; (2) along an arc curving to the right having a radius of 460.00 feet and an arc distance of 275.07 feet (the chord of South 42 degrees 41 minutes and 00 seconds West 271.00 feet) to a point of compound curve; (3) along an arc curving to the right having a radius of 1,525 feet, an arc distance of 200.75 feet (the chord of South 64 degrees 41 minutes 00 seconds West 200.60 feet) to a point; thence South 21 degrees 29 minutes 00 seconds East 20.00 feet to a point on the Southerly side of Hares Lane; thence along the southerly side of Hares Lane by land now or formerly of Radnor Township South 68 degrees 31 minutes 00 seconds West 345.30 feet to the first mentioned point and place of beginning.

CONTAINING 10.839 acres of land be the same more or less.

EXHIBIT A

BeJinning at a point on the South $Ide ofHarea Lane. a private road (40 teet wide) and a point being along the Ea1It aide olKinS ofPrusaia Road 16.56 feet from the centerline of King ofPnassia Road; then crossing the ultimate riJht-of-way or King of Prussia Road. along the South side or Hare's Lane north 68 degrees 31 minutes out 328.74 feet to a po~ thence leaving the South side ofHare~1 Lane North 2J degA'lCf 29 minutoa west 20,00 feet to a point of curve on d2e centerline ofHMe·J Lane. thence along the centerline ofHare~s we the foUowmg two courses and distance&; (1) alons the arc ofa c1rcle CUrvil1l to the left With. radius of 1525.00 feet, a distance 0£200.6O fet;t to a point. (.2) mODI the arc ofa circle curving to the left with I radius of 460.00· feetJ• dimnoe of 40.01 feet to & point of tangent, thence (cavins the «weO.mo otHare'. Lane South 25 degrees J ~ minutes 20 seconds Bllt crossing a driv~y to a certain parkins Jot 380.4' to a point on the centerlinoofM'atsonford Road (S7 teet wide). thence- alon.g the centerline of Matsomord Road North 8S dearees 40 minutes East IS. 00 feet to a point rbeztce leaving the centerline otMatJonford Road, South 11 depees 22 minutes West 440.65 feet to a point. thence South 66 degrees 42 minutes 50 seconds West 228.95 feet to a point of curve, thence along the &to of a oircle curviDa to the right with a ra.diul ot 42. 00 feet > a dlst.ance of 63.71 feetp the ohorc1 of whioh bears North 69 degrees 49 minutes 48 seconds West 57.78 feet. thence along a line South 63 deatee. 38 minutes West 7.50 feet to a point being aIona the But Bide o£King otPn..auia R.oad, thence along the East aide ofKiIJ.l of Prussia Road North 26 degrees 22 minutes West 874.34 feet to a point and place of beginning, Said BRa herein described being 10.568 acres.

EXHIBIT B

Besinnin,at 4 point on tho South side of Hares Lane, a private road (40 fttet wide) and a point beinl alan; the East side oflClng of Prussia Road 16.56 feet from tho contetliM of King olPrusaia Road~ then crouina: the ultimate right-or-way ofJ<ing o(Pruui. Road aloDS the Soutb side of Hare's Lane north 68 dearee, J 1 minutes eali 328.74 teet to a pOint, thence leaving the South side o(Hare"s Lane North 21 degrees 29 rnh'1utea Welt 20.00 feet to a point of curve on tho centerline of Hare's Lane, thSl.1ce along the centerline otHare'. Lane the following two courses and distance,; (1) along the arc of a circle Cl1f'Vins to the left with a radlus of 1 525.00 ~ a distance of 200. 75 feet to a poi~ (2) alol18 the uc of. circle curvin. to the left with a radiu$ 0(460.00 feet, a distance of 40.01 feet to a. polnt oftangeDtJ tlJeoce leavirsa the ccntc:rUnc of Hare's Lane South 25 degrees 16 minutes 20 seconds East crossing a driveway to & can. parlcinl Jot 580.45 to a point on the centerline ofMatsonford Road (57 feet wide). thence along the centerline or Matsonford!toad North 8S degrees 47 minutes 55 seconds West 115.12 feet to a point orcurve, thence 81iD aJong the centerline ofMabonford Roa~ .dons the arc of a circle curving to the left with a radius of9St.i.93 feet, a distance of345.72 feet to a point of tan sent, thence ItilI along the centerline ofMatlOnford Road South 73 degrees 30 minutes as ~ Weat 86.32 feet to a point on the East side of King of'PrulN Road,. Mid point being 16.77 teet &om the centerline of King of Prussia Road, thence along the B*$l side orKiog ofPruwa RDad North 26 desrees 22 minutes West 365.00 feet to I point: and plaoc of beginning. Said area herein. described being 5.684

acres.

EXHIBIT C

Beginnins at & point on't11e ccmtertine of., abamloDed private mad ftIlftCd ff.lIM·Lane (40 ft;et wide), said point bttin8 the tbllowlna four (4) courses and d~ ftom the lnterHotfon of the ' centertin"-<lfHlfOt Lane ..... · Kina"ofPrussta Jleact .. ehowD-on. Subdhision 'Plaoa ~ for the Radnor TownlbJp SObool DlItriCt by RetteW AaBOOlatotJng. dated MarGb 1 S, 1999. (1) North 68 4IiJreet !fl'miuu_ Eat 328.""10 ",'polntol-curvc,(2)~. &to ofa'Grote curving to the left with. radiue ot-lS2-S.00 f'eot tho arc dtltMCe ot200.7S feet to a poim ofCI.U'Ve_ (3) aJoDS ,"c-ttc-ot. circle CNfYiJw-to tM toft witk·. radtueo()r460~.oo-ht,theuc-6t8ftCeof 27S.08 toot to" polrat oIN'Y'IIrH c:ut"W.(4)·aloftS the arc ofa circle CUJ"Ying to the ri. with a radius of'l5-19:09A:et the arc-dfltance of'24.{){'/eet. Thcm.ae leaYiq'tbecenterHne,otHareaLane North 63 ~greeS 23 minutes 53 seconds 497.37·teot to a po1nt: on the common proptll'tY.line of the lands of 425 -lGitw ofPt;USSia Road and the lands 'Ottbe·Radnor 't'-owuship School ntstrlot, thence along said property linear portions tbereoftbo ttillowiDa. three (3) counes and dietaaoel, (l)North 61"'11'55 minutea Jl-seconds East·88.«3 Aet to-a ,point, (2)·North16-d ...... 41 minutes 29 atcondt weSt.. (l)'North 67 degrees '55 minutes 3] eer:oDd. Bast 4S6.01':fbe'tto a point, said poil'lt-being the comer·oCtlle -Jands ef'Richafd udBrlta·Gwtnn" ,thence·along said property 1i1le Soutb 24 degrees 5 m1nutes 7 seconds Baat 214.82 fWt to a pOint and p~ 01 begilming. Saki .. hcnIn detcribed bointJ 3.000 aGn\l5.

EXHIBIT D

PERMITTED EXCEPTIONS - PREMISES A

1. Any encroachments, easements, measurements, variations in area or content, party walls or other facts which a correct survey of the Premises would show.

2. Possible additional tax assessments by reason of new construction or improvements pursuant to provisions of Acts of Assembly relating thereto, not yet due and payable.

3. Covenants, restrictions and easements set forth in a Covenants, Restrictions and Easements Agreement by and among Radnor Center Associates, Township and District dated as of August 16, 1999.

4. Public rights in and to that portion of the Premises lying in the beds of King of Prussia Road and Matsonford Road.

5. Rights granted to utilities companies noted on the title report issued by the title company chosen by District to insure title to the premises, provided such rights do not materially adversely affect District's intended use of the Premises.

6. Rights of others to use existing Hares Lane.

EXHIBIT E

PERMITTED EXCEPTIONS - PREMISES B

1. Any encroachments, easements, measurements, variations in area or content, party walls or other facts which a correct survey of the Premises would show.

2. Possible additional tax assessments by reason of new construction or improvements pursuant to provisions of Acts of Assembly relating thereto, not yet due and payable.

3. Covenants, restrictions and easements set forth in a Covenants, Restrictions and Easements Agreement by and among Radnor Center Associates, Township and District dated as of August 16, 1999.

4. Rights granted to utilities companies as more particularly set forth in Deed Book 975 page 400 and Deed Book 2618 page 490.

5. Rights of others to use the driveway identified as Hares Lane Relocated in the Easement Plan attached to the aforementioned Agreement dated as of August 16, 1999.

6. Rights of others to use existing Hares Lane.

EXHIBIT F

RADNOR

TOWNSHIP

SCHOOL

DISTRICT

ADMINISTRATION BUILDING

135 SOUTH WAYNE AVENUE

TELEPHONE (610) 68B·Bl00.FAX (610) 971-0742 WAYNE, PENNSYLVANIA 19087-4194

In order to satisfy condition No. 3 of Radnor Township Resolution No. 99-38, Radnor Township School District hereby agrees not to apply to the Township for a grading or building permit until it receives the Highway Occupancy Permit referred to in Condition No.3 of Resolution No. 99-38.

Radnor Township agrees that the land development and subdivision plan approved by Resolution No. 99-38 will be signed and recorded subject to the above agreement by the Radnor Township School District pending receipt of the aforementioned Highway Occupancy Permit.

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Radnor Township

Lisa A. Palmer School Board Secretary

Radnor Township School District