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2. That New Kim Development, LLC is hereby granted a use pen-nit pursuant to Section 40.1- 2.3(B) of the Code of the City of Portsmouth, Virginia (2006) to develop and operate not more than 27 units of multifamily housing at 325 -327 High Street and 341 High Street, Portsmouth, Virginia, being more particularly described as: UP -17 -07 325 -327, 341 High Street (Tax Parcels 0007 -0010, 0007 -0070, and 0007 -0071) PARCEL ONE: All that certain leasehold estate for ninety -nine (99) years, renewable forever, demised by the Trustees of the Town of Portsmouth to Leon Hesdra by lease dated September 12, 1803 and recorded in Deed Book 41, page 145 in the Clerk's Office of the Circuit Court of the City of Chesapeake, Virginia, in and to land on the south side of High Street, in the City of Portsmouth, Virginia and known by the present system of street numbers as 325 -327 High Street and bounded and described as follows, to -xvit: Beginning at a point on the south side of High Street One Hundred Ten (I 10) feet east of Court Street; thence running east along High Street Thirty -five (35) feet; thence south One Hundred Thirteen (113) feet; thence west Thirty -five (35) feet and thence north One Hundred Thirteen (113) feet to the point of beginning. IT BEING the same property conveyed to Progressive Portsmouth, LLC by deed from John D. Stevens dated December 27, 2007 and recorded in the Portsmouth Circuit Court Clerk's Office as Instrument Number 080000565. PARCEL TWO: All that certain lot, piece or parcel of land with the buildings and improvements thereon and the appurtenances thereunto belonging, lying, being and situate in the City of Portsmouth. Virginia and being described as follows: Beginning at the southeast intersection of Court Street and High Street and running thence east along High Street 110 feet, more or less, to the land conveyed to Legnab, Inc. by deed recorded in the Clerk's Office of the Circuit Court of the City aforesaid in Deed Book 546 at page 40; thence south and parallel with Court Street 68.1 feet, more or less, to land conveyed to Stanley G. Bangel and Herbert K.