“Permit” means Department of the Army permit number POA-2009-1303 Portage Cove issued by the Juneau Regulatory District Corps of Engineers on June 24, 2010, required to mitigate for unavoidable impacts authorized by that permit.

“Property” means that area of tidelands and submerged lands located at Picture Point owned by the borough, whose legal description is:

Commencing at the southernmost property corner of Lot 3 Nukdik Point View Subdivision, Plat No. 2009-1, which is at the 1987 meander line of ATS 1308, from which the Northwest property corner of Lot 3 bears N 45° 42' 52" W a distance of 67.69 feet thus being the Basis of Bearing for this legal description; thence N 54° 55' 31" E a distance of 390.04 feet to the True Point of Beginning; thence S 49° 41' 53" E a distance of 138.82 feet; thence N 45° 54' 51" E a distance of 141.7 feet; thence N 66° 46' 51" a distance of 81.68 feet; thence N. 10° 24' 31" W a distance of 73.92 feet; thence S 89° 31' 21" W a distance of 79.55 feet; thence S 53° 52' 18" W a distance of 33.38 feet; thence S 74° 16' 56" W a distance of 62.49 feet; thence S 47° 42' 21" W a distance of 88.92 feet; thence S 65° 54' 02" W a distance of 40.26 feet to the Point of Beginning, containing 0.649 acres more or less.