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EXHIBIT 10.11
Prepared By and Upon
Recordation Return To:
THE BANK OF NEW YORK
000 Xxxxxxx Xxxxxx - 00X
Xxx Xxxx, Xxx Xxxx 00000
Attention: Corporate Trust Administration
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ASSIGNMENT OF RENTS, LEASES AND PROFITS
000 XXXX XXXXXX XXXXXXX XXXXXXXXX COMPANY,
a Colorado limited liability company,
as Assignor
THE BANK OF NEW YORK,
as Assignee
Dated as of December 30, 1997
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ASSIGNMENT OF RENTS, LEASES AND PROFITS
THIS ASSIGNMENT OF RENTS, LEASES AND PROFITS ("Assignment of Rents and
Leases"), is made as of the 30th day of December, 1997 by 000 Xxxx Xxxxxx
Limited Liability Company, a Colorado limited liability company ("Assignor"),
whose principal place of business is located at 000 Xxxx Xxxxxx, Xxxxx Xxxx,
Xxxxxxxx 00000, in favor of The Bank of New York, a New York banking
corporation, as Collateral Agent ("Assignee"), whose principal place of business
is located at 000 Xxxxxxx Xxxxxx - 00X, Xxx Xxxx, Xxx Xxxx 00000, in its
capacity as trustee under the "Indenture" (as such term is hereinafter defined)
for the ratable benefit of the Holders (as such term is defined in the
Indenture).
WITNESSETH:
WHEREAS, pursuant to that certain Indenture dated as of December 30,
1997 (as supplemented and otherwise amended from time to time, the "Indenture"),
by and among Fitzgeralds Gaming Corporation ("Fitzgeralds"), the Guarantors
(defined therein), and Assignee, as trustee thereunder (in such capacity, the
"Indenture Trustee"), Fitzgeralds will issue 12 1/4% Senior Secured Notes due
2004 in an aggregate principal amount of up to $255,000,000 (collectively, the
"Notes"). Unless the context other requires, all capitalized terms used and not
otherwise defined herein shall have the meanings ascribed thereto in the
Indenture; and
WHEREAS, pursuant to a guarantee included in the Indenture (as amended
from time to time, the "Subsidiary Guarantee"), the Guarantors (including
Assignor) have Guaranteed the obligations of Xxxxxxxxxxx under the Notes, the
Indenture and the other Security Documents to which Xxxxxxxxxxx is a party; and
WHEREAS, pursuant to the Indenture, the Subsidiary Guarantee of Assignor
is secured by, among other things, a Deed of Trust ("Deed of Trust") of even
date from Assignor, as Trustor, to the Public Trustee of the County of Xxxxxx,
Colorado, as Trustee, for the use and benefit of Assignee, as Beneficiary, and a
Security and Pledge Agreement, encumbering certain property situate in the
County of Xxxxxx, State of Colorado, as is more particularly described on
Exhibit A attached hereto and incorporated herein by this reference, and the
buildings and improvements now or hereafter located thereon (said property,
buildings and improvements being collectively referred to as the "Property");
and
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WHEREAS, Assignor is desirous of further securing to Assignee the
performance of the terms, covenants and agreements of the Notes, the Deed of
Trust and each other document executed by or on behalf of Assignor evidencing,
securing or relating to the indebtedness evidenced by the Notes, as each of the
foregoing may from time to time be amended (collectively, "Security Documents").
NOW, THEREFORE, in consideration of the foregoing premises and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Assignor does hereby irrevocably and unconditionally transfer,
sell, assign, pledge and convey to Assignee all of the right, title and interest
of Assignor in and to (but excluding in each and every case all Excluded Assets,
as defined in the Deed of Trust), whether now owned or hereafter acquired:
GRANTING CLAUSE ONE
[RENTS, ETC.]
All rents, income, security or similar deposits, including
without limitation, receipts, issues, royalties, earnings, products or proceeds,
profits, maintenance, license and concession fees and other revenues to which
Assignor may now or hereafter be entitled, including, without limitation, all
rights to payment for hotel room occupancy by hotel guests, which includes any
payment or monies received or to be received in whole or in part, whether actual
or deemed to be, for the sale of services or products in connection therewith
and/or in connection with such occupancy, advance registration fees by hotel
guests, tour or junket proceeds and deposits for conventions and/or party
reservations (collectively the "Rents"), subject to the revocable license
hereinafter given to Assignor to collect and apply such Rents.
GRANTING CLAUSE TWO
[LEASES, INCLUDING DEPOSITS AND ADVANCE RENTALS]
TOGETHER WITH, (a) all estate, right, title and interest of
Assignor in, to and under any and all leases, subleases, lettings, licenses,
concessions, operating agreements, management agreement, franchise agreements
and all other agreements affecting or covering the Property or any portion
thereof now or hereafter existing or entered into, together with all amendments,
extensions and renewals of any of the foregoing, (b) all right, title, claim,
estate and interest of Assignor thereunder, including, without limitation, all
claims of the lessor thereunder, letters of credit, guarantees or
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security deposits, advance rentals, and any and all deposits or payments of
similar nature (collectively, "Leases") and (c) the right to enforce against any
tenants thereunder and otherwise any and all remedies under any of the
foregoing, including Assignor's right to evict from possession any tenant
thereunder or to retain, apply, use, draw upon, pursue, enforce or realize upon
any guaranty thereof; to terminate, modify, or amend any such agreement; to
obtain possession of, use, or occupy, any of the real or personal property
subject to any such agreement; and to enforce or exercise, whether at law or in
equity or by any other means, all provisions of any such agreement and all
obligations of the tenants thereunder based upon (i) any breach by such tenant
thereunder (including any claim that Assignor may have by reason of a
termination, rejection, or disaffirmance of such agreement pursuant to any
Bankruptcy Law), and (ii) the use and occupancy of the premises demised, whether
or not pursuant to the applicable agreement (including any claim for use and
occupancy arising under landlord-tenant law of the State of Colorado or any
Bankruptcy Law).
TO HAVE AND TO HOLD the same unto Assignee, its successors and assigns,
as additional security for the payment of the principal, interest and all other
sums due Assignee under the Notes according to the terms thereof and for the
observance, performance and discharge of each and every obligation, covenant and
agreement on the part of Assignor, its successors and assigns, to be observed,
performed and discharged under the Security Documents.
IT IS AGREED that, notwithstanding that this instrument is a present and
executed assignment of the Rents and of the Leases and a present and executed
grant of the powers herein granted to assignee, Assignor shall be permitted, at
the sufferance of Assignee and at its discretion after default by Assignor, to
collect and retain the Rents unless and until there shall be a default in the
payment of principal, interest, taxes, insurance or any other sums due under the
terms of the Security Documents or there shall be a default in the performance
or observance of any of the other obligations, covenants, warranties,
representations, terms or conditions of the Security Documents. In the event of
such default, Assignee, without in any way waiving such default, shall have the
sole and exclusive right and authority, without any notice whatsoever to
Assignor and without regard to the adequacy of the security therefor, either in
person, by agent or by a receiver appointed by a court upon ex parte
application, to take possession of the Property and to: (a) manage and operate
the same; (b) collect the Rents therefrom, including those past due and unpaid,
with full power to employ agents to manage the Property; and (c) do all acts
relating to such management, including, but not limited to, negotiation of new
Leases thereon, making adjustments of existing Leases, contracting and paying
for such repairs and replacements to the buildings and
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fixtures, equipment and personal property located therein and used in any way in
the operation, use and occupancy of the Property as in the sole judgment and
discretion of Assignee may be necessary to maintain the same in a tenantable
condition, purchasing and paying for such additional furniture and equipment as
in the sole judgment of Assignee may be necessary to maintain a proper rental
income from the Property, employing necessary maintenance employees, purchasing
fuel, providing utilities and paying for all other necessary expenses incurred
in the operation of the Property, maintaining adequate insurance coverage over
hazards customarily insured against and paying the premiums therefor. Assignee
may apply the net Rents so collected from the Property, after deducting the
costs of collection thereof, including, without limitation, reasonable
attorneys' fees and a reasonable management fee for any management agent so
employed, against the amount expended for repairs, upkeep, maintenance, service,
fuel, utilities, taxes, assessments, insurance premiums and such other expenses
as Assignee incurs in connection with the operation of the Property, and against
principal, interest and other charges which have or which may become due, from
time to time, under the terms of the Security Documents, in such order or
priority as to any of the items so mentioned as Assignee, in its sole
discretion, may determine. The exercise by Assignee of the rights granted
Assignee in this paragraph, and the collection of Rents and the application
thereof as herein provided, shall not be considered a waiver by Assignee of any
default by Assignor under the Security Documents or prevent foreclosure of the
Property, Assignee hereby expressly reserving all of its rights and privileges
under the Deed of Trust and the other Security Documents as fully as though this
Assignment of Rents and Leases had not been entered into.
In the event of such default, Xxxxxxxx agrees to assign and deliver to
Assignee all then existing Leases. Without limiting the provisions of the
immediately preceding sentence, and whether or not Assignor assigns or delivers
said Leases to Assignee, as aforesaid, this Assignment of Rents and Leases shall
be deemed to be an assignment of all such Leases to Assignee. The provisions
hereof shall not limit the effect of any assignments of particular Leases in
fact given to Assignee by Assignor.
Notwithstanding any rights granted hereinabove, in the event Assignor
shall fail to make any payment or to perform any act required under the terms
hereof, then Assignee may, but shall not be obligated to, without prior notice
to or demand on Assignor, and without releasing Assignor from any obligation
hereof, make or perform the same in such manner and to such extent as Assignee
may deem necessary to protect the security hereof, including specifically,
without limitation, appearing in and defending any action or proceeding
purporting to affect the security hereof or the rights or powers of Assignee,
performing or discharging any obligation, covenant or agreement
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of Assignor under any of the Leases, and, in exercising any of such powers,
paying all necessary costs and expenses, employing counsel and incurring and
paying reasonable attorneys' fees. Any sum advanced or paid by Assignee for any
such purpose, including, without limitation, reasonable attorneys' fees, shall
be immediately due and payable to Assignee by Assignor on demand, shall be added
to the outstanding principal balance of the Notes (even if such addition results
in the outstanding principal balance being in excess of the face amount of the
Notes) and shall bear interest at the Default Rate (as defined in Section 4.1 of
the Indenture) from the date paid or advanced by Assignee until repaid by
Assignor.
IT IS FURTHER AGREED that this Assignment of Rents and Leases is made
upon the following terms, covenants and conditions:
1. This Assignment of Rents and Leases shall not operate to place
responsibility for the control, care, management or repair of the Property upon
Assignee, nor for the performance of any of the terms and conditions of any of
the Leases assigned hereunder, nor shall it operate to make Assignee responsible
or liable for any waste committed on the Property by the tenants or any other
party or for any dangerous or defective condition of the Property or for any
negligence in the management, upkeep, repair or control of the Property
resulting in loss or injury or death to any tenant, invitee, licensee, employee
or stranger. Assignee shall not be liable for any loss sustained by Assignor
resulting from Xxxxxxxx's failure to let the Property or from any other act or
omission of Assignee in managing the Property, absent gross negligence or
willful misconduct by Assignee. Except to the extent caused by Assignee's
willful misconduct or gross negligence, Assignor shall and do hereby agree to
indemnify and to hold Assignee harmless from and against any and all liability,
loss or damage which may or might be incurred by reason of this Assignment of
Rents and Leases and from and against any and all claims and demands whatsoever
which may be asserted against Assignee by reason of any alleged obligations or
undertakings on its part to perform or discharge any of the terms, covenants or
agreements contained in any of the Leases. Should Assignee incur any liability
by reason of this Assignment of Rents and Leases or in defense of any claim or
demand for loss or damage as provided above, the amount thereof, without
limitation, costs, expenses and reasonable attorneys' fees, shall be added to
the outstanding principal balance of the Notes (even if such addition results in
the outstanding principal balance being in excess of the face amount of the
Notes), shall bear interest at the Default Rate from the date paid by Assignee
until repaid by Assignor and shall be secured hereby and Assignor shall
reimburse Assignee therefor immediately upon demand. Notwithstanding anything
contained in this paragraph, Assignor
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shall not be required to indemnify Assignee for any damage suffered by Assignee
due to Assignee's negligence relating to Assignee's operation of the Property.
2. This Assignment of Rents and Leases shall not be construed as making
Assignee a mortgagee in possession.
3. Assignee is obligated to account to Assignor only for such Rents as
are actually collected by Assignee.
4. Assignor hereby assigns to Assignee: (a) any award of other payment
which Assignor may hereafter become entitled to receive with respect to any of
the Leases as a result of or pursuant to any bankruptcy, insolvency or
reorganization or similar proceedings involving the tenants under such Leases;
and (b) any and all payments made by or on behalf of any tenant of any part of
the Property in lieu of Rent. Assignor hereby irrevocably appoints Assignee as
its attorney-in-fact to appear in any such proceeding and/or to collect any such
award or payment, which power of attorney is coupled with an interest by virtue
of this Assignment of Rents and Leases and is irrevocable.
5. Assignor represents and warrants: (a) that assignor now is (or with
respect to any Leases not yet in existence, will be immediately upon the
execution thereof) the absolute owner of the landlord's interest in the Leases,
with full right and title to assign the same and the Rents due or to become due
thereunder; (b) that, except for this Assignment of Rents and Leases and except
as otherwise expressly permitted by the terms of the Deed of Trust, there are,
and will be, no outstanding assignments or pledges of the Leases or Rents; (c)
that no Rents payable under the Leases have been or will be hereafter
anticipated, discounted, released, waived, compromised or otherwise discharged
without Assignee's prior written consent, except that Assignor shall be
permitted to enter into agreements with tenants to vacate the property within 30
days after default on a lease in exchange for statement of rent; (d) to the best
of Assignor's knowledge and except as otherwise disclosed in writing to Assignee
on or prior to the date hereof, that there are no defaults now existing under
any of the Leases and there exists no state of facts which, with the giving of
notice or lapse of time or both, would constitute a default under any of the
Leases; and (e) that Assignor will observe and perform all covenants, conditions
and agreements in the Leases on the part of the landlord to be observed and
performed thereunder.
6. Assignor covenants and agrees that Assignor will not, without the
prior written consent of Assignee: accept any payment of Rent or installments of
Rent for
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more than one month in advance or take any action or exercise any right or
operation which would permit the tenant under any Lease to cancel or terminate
said Lease. Assignor will immediately furnish to Assignee copies of all notices
of default received from any tenant under any of the Leases, and Assignee shall
have the right, at Assignor's expense, but shall not be obligated, to cure any
default by Assignor under any of the Leases which Assignor is not proceeding
diligently to cure itself.
7. Assignor covenants and agrees that Assignor shall, at its sole cost
and expense, appear in and defend any action or proceeding arising under,
growing out of or in any manner connected with the Leases or the obligations,
duties or liabilities of the landlord or tenant thereunder, and shall pay all
reasonable costs and expenses, including, without limitation, attorneys' fees,
which Assignee may incur in connection with Assignee's appearance, voluntary or
otherwise, in any such action or proceeding.
8. Assignee may, at its option, upon any Event of Default under the
Security Documents, notify any tenants or other parties of the existence of this
Assignment of Rents and Leases. Assignor does hereby specifically authorize,
instruct and direct each and every present and future tenant, lessee, sublessee
and licensee of the whole or any part of the Property to pay all unpaid and
future Rents agreed upon in each tenancy to Assignee upon receipt of demand from
Assignee to so pay the same and Assignor hereby agrees that each such present
and future tenant, lessee, sublessee and licensee may rely upon such written
demand from Assignee to so pay said Rents without any inquiry into whether
Assignor is in default hereunder or under the Security Documents or whether
Assignee is otherwise entitled to said Xxxxx.
9. Assignee may take or release other security, may release any party
primarily or secondarily liable for any indebtedness secured hereby, may grant
extensions, renewals or indulgences with respect to any indebtedness secured
hereby and may apply any other security therefor held by it to the satisfaction
of any indebtedness secured hereby without prejudice to any of its rights
hereunder.
10. The acceptance of this Assignment of Rents, Leases and Profits and
the collection of the Rents hereby assigned in the event of a default, as
referred to above, shall be without prejudice to Assignee. The remedies of
Assignee hereunder are cumulative and the exercise of any one or more of the
remedies provided for herein shall not be construed as a waiver of any of the
other remedies of Assignee, at law or in equity or otherwise, so long as any
obligation under the Security Documents remains unsatisfied.
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11. All rights of Assignee hereunder shall inure to the benefit of its
successors and assigns; and all obligations of Assignor shall bind its
successors and assigns and any subsequent owner of the Property. All rights of
Assignee in, to and under this Assignment of Rents and Leases and in and to the
security provided hereby shall pass to and may be exercised by any assignee
thereof. Assignor agrees that if Assignee gives notice to Assignor of an
assignment of said rights, upon such notice the liability of Assignor to the
Assignee shall be immediate and absolute. Assignor will not set up any claim
against Assignee or any intervening assignee as a defense, counterclaim or
set-off to any action brought by Assignee or any intervening assignee for any
amounts due hereunder or for possession of or the exercise of rights with
respect to the security provided hereby.
12. Any default by Assignor in the performance or observance of any
covenants or condition hereof shall be deemed an Event of Default under the Deed
of Trust, entitling Assignee to exercise all or any remedies available to
Assignee under the terms of any or all of the Security Documents, and any Event
of Default under any Security Document shall be deemed a default hereunder,
entitling Assignee to exercise any or all remedies provided for herein.
13. Failure by Assignee to exercise any right which it may have
hereunder shall not be deemed a waiver thereof unless so agreed in writing by
Assignee, and the waiver by Assignee of any default by Assignor hereunder shall
not constitute a continuing waiver or a waiver of any other default or of the
same default on any future occasion. No collection by Assignee of any Rents
pursuant to this Assignment of Rents and Leases shall constitute or result in a
waiver of any default then existing under any of the Security Documents.
14. If any provision under this Assignment of Rents and Leases shall be
invalid, illegal or unenforceable, it shall not affect or impair the validity,
legality and enforceability of any other provision of this Assignment of Rents
and Leases.
15. This Assignment of Rents and Leases may not be amended, modified or
otherwise changed except by a written instrument duly executed by Assignor and
Assignee.
16. This Assignment of Rents and Leases shall be in full force and
effect continuously from the date hereof to and until the Deed of Trust shall be
released of record, and the release of the Deed of Trust shall, for all
purposes, terminate this Assignment of Rents, Leases and Profits.
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17. In case of conflict between any provision of this instrument and any
provision of the Deed of Trust, the Deed of Trust shall prevail and be
controlling.
18. This Assignment of Rents and Leases shall be governed by and
construed in accordance with the laws of the State of Colorado.
19. All notices and other communications under this Assignment of Rents
and leases shall be in writing and shall be personally delivered or sent by
prepaid courier, by overnight, registered or certified mail (postage prepaid) or
by prepaid telex, telecopy or telegram, and shall be deemed given when received
by the intended recipient thereof. Unless otherwise specified in a notice given
in accordance with the foregoing provisions of this Section 19, notices and
other communications shall be given to the parties hereto at their respective
addresses (or to their respective telex or telecopier numbers) indicated below:
ASSIGNOR:
000 XXXX XXXXXX LIMITED LIABILITY COMPANY,
a Colorado limited liability company
000 Xxxxxxx Xxxxxx
P.O. Box P
Black Hawk, Colorado 80422
ASSIGNEE:
THE BANK OF NEW YORK
000 Xxxxxxx Xxxxxx - 00X
Xxx Xxxx, Xxx Xxxx 10286
Attention: Corporate Trust Administration
20. WAIVER OF TRIAL BY JURY. ASSIGNOR AND ASSIGNEE WAIVE THE RIGHT TO A
TRIAL BY JURY IN ANY ACTION UNDER THIS DEED OF TRUST OR ANY OTHER SECURITY
DOCUMENT OR ANY OTHER ACTION ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY, REGARDLESS OF WHICH PARTY INITIATES SUCH ACTION OR ACTIONS.
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IN WITNESS WHEREOF, Assignor has caused this Assignment of Rents
and Leases to be executed as of the day and year first above written.
000 XXXX XXXXXX XXXXXXX
XXXXXXXXX COMPANY,
a Colorado limited liability company
By: /s/ XXXXXXX X. XXXXXXXXX
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Name: Xxxxxxx X. XxXxxxxxx
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Title: Senior Vice President,
Chief Financial Officer,
Treasurer and Secretary
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STATE OF CALIFORNIA )
) ss.
COUNTY OF LOS ANGELES )
The foregoing instrument was acknowledged before me this 30th day of
December, 1997 by Xxxxxxx X. XxXxxxxxx, an individual.
Witness my hand and official seal.
Notary Public /s/ XXXXXXX X. XXXXX
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My commission expires: April 7, 1998
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XXXXXXX X. XXXXX
COMM. #1022678
[SEAL] NOTARY PUBLIC-CALIFORNIA
LOS ANGELES COUNTY
My Comm. Expires April 7, 1998
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EXHIBIT A
Legal Description
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Commitment Number TG11636
SCHEDULE A - CONTINUED
4. The land referred to in this commitment is described as follows:
THAT PART OF LOTS 4 AND 11, BLOCK 35,
LOTS 5, 6, 7, 8, 9, AND 10, BLOCK 35,
LOTS 4, 5 AND 6 AND PART OF LOTS 2 AND 3, BLOCK 36, AND
THAT PART OF LOTS 10, 11 AND 12, BLOCK 34 AND
THAT PART OF LOT 1, BLOCK 36,
CITY OF BLACK HAWK, COUNTY OF XXXXXX, STATE OF COLORADO,
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST NORTHERLY CORNER OF LOT 6, BLOCK 35, CITY OF BLACK HAWK,
WHICH POINT IS ESTABLISHED BY THE INTERSECTION OF THE SOUTHEASTERLY LINE OF
XXXXXXX STREET WITH THE SOUTHWESTERLY LINE OF MAIN STREET AS SAID STREET LINES
WERE ESTABLISHED BY BOUNDARY LINE AGREEMENTS RECORDED IN BOOK 540 AT PAGE 383;
THENCE S47 DEGREES 37'00"E ALONG SAID SOUTHWESTERLY LINE OF MAIN STREET A
DISTANCE OF 199.59 FEET TO THE NORTHEASTERLY CORNER OF TRACT CONVEYED IN
SPECIAL WARRANTY DEED RECORDED IN BOOK 560 AT PAGE 446;
THENCE S41 DEGREES 31'30"W ALONG THE SOUTHEASTERLY LINE SAID TRACT A DISTANCE OF
101.67 FEET TO THE MOST SOUTHERLY CORNER SAID TRACT, WHICH POINT IS ON THE LINE
BETWEEN SAID BLOCK 35 AND SAID BLOCK 36;
THENCE S47 DEGREES 37'00"E ALONG THE NORTHERLY LINE SAID BLOCK 36 A DISTANCE OF
61.55 FEET TO AN ANGLE POINT IN THE NORTHERLY LINE OF LOT 5, BLOCK 36;
THENCE S60 DEGREES 00'00"E ALONG THE NORTHERLY LINES OF LOT 5 AND LOT 6, IN
SAID BLOCK 36 A DISTANCE OF 69.05 FEET TO A POINT ON A LINE ESTABLISHED BY
BOUNDARY LINE AGREEMENT RECORDED IN BOOK 603 PAGE 201;
THENCE S30 DEGREES 59'20"W ALONG THE LINE ESTABLISHED BY SAID BOUNDARY LINE
AGREEMENT, A DISTANCE OF 75.38 FEET TO A POINT ON THE NORTH RIGHT OF WAY LINE
OF BOBTAIL STREET AS DESCRIBED IN BOOK 586 AT PAGE 113, WHICH POINT IS ON A
CURVE CONCAVE TO THE NORTH;
THENCE WESTERLY ALONG SAID CURVE, CENTRAL ANGLE = 4 DEGREES 46'06", RADIUS =
142.00 FEET, AND ARC LENGTH OF 11.82 FEET TO A POINT OF TANGENCY, THE CHORD OF
SAID ARC BEARS N56 DEGREES 50'06"W, A DISTANCE OF 11.81 FEET;
THENCE N59 DEGREES 13'09"W ALONG THE SIDE RIGHT OF WAY LINE A DISTANCE OF
178.24 FEET;
THENCE N59 DEGREES 01'26"W ALONG SAID RIGHT OF WAY LINE A DISTANCE OF 44.48
FEET TO A POINT OF CURVATURE;
THENCE ALONG SAID RIGHT OF WAY LINE AND ALONG THE ARC OF A CURVE TO THE RIGHT,
CENTRAL ANGLE = 30 DEGREES 58'34", RADIUS = 140.00 FEET, AN ARC LENGTH OF 75.69
FEET TO A POINT OF TANGECY, THE CHORD OF SAID ARC BEARS N74 DEGREES 30'43"W A
DISTANCE OF 74.77 FEET;
THENCE CONTINUING ALONG SAID RIGHT OF WAY LINE, N90 DEGREES 00'00"W A DISTANCE
OF 72.88 FEET, MORE OR LESS, TO A POINT ON THE WESTERLY LINE OF LOT 10, BLOCK
34;
THENCE N20 DEGREES 00'00"W ALONG SAID WEST LINE A DISTANCE OF 34.92 FEET TO THE
NORTHWEST CORNER OF SAID LOT 10;
THENCE N66 DEGREES 41'00"E ALONG THE NORTH LINE SAID BLOCK 34 A DISTANCE OF
102.69 FEET TO AN ANGLE POINT IN SAID NORTH LINE;
THENCE CONTINUING ALONG SAID NORTH LINE, N74 DEGREES 11'00"E, A DISTANCE OF
66.60 FEET TO A POINT ON THE SOUTHERLY LINE OF LOT 4, BLOCK 35, WHICH POINT IS
THE MOST SOUTHERLY CORNER OF TRACT DESCRIBED IN QUIET TITLE ACTION RECORDED IN
BOOK 551 AT PAGE 1;
THENCE N15 DEGREES 49'00"W ALONG THE WESTERLY LINE SAID TRACT A DISTANCE OF
103.08 FEET TO THE MOST WESTERLY CORNER SAID TRACT, WHICH POINT IS ON THE
SOUTHEASTERLY LINE OF XXXXXXX STREET AS DEFINED IN BOUNDARY LINE AGREEMENT
DESCRIBED IN BOOK 540 AT PAGE 383;
THENCE N76 DEGREES 11'39"E ALONG SAID SOUTHEASTERLY LINE XXXXXXX STREET AS
DEFINED IN SAID BOUNDARY LINE AGREEMENT AND AS DESCRBIED IN QUIET TITLE ACTION
RECORDED IN BOOK 551 AT PAGE 1, A DISTANCE OF 83.68 FEET, MORE OR LESS TO THE
POINT OF BEGINNING,
COUNTY OF XXXXXX, STATE OF COLORADO.