The exact place, it appears (4)

I believe the answer is:

nice

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'the exact' is the definition.
(I've seen this in another clue)

I cannot understand how the remainder of the clue works.

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(Other definitions for nice that I've seen before include "French city - sounds plesant" , "French resort; pleasing" , "Pleasant - precise" , "Charming" , "French Mediterranean resort" .)

I've seen this clue in the Evening Standard.

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