I don't think the text is Arial, the tail on the R is wrong, as is the E. More like Trade or News Gothic, although the S is wrong for both those fonts.

The people who make this sort of sign don't necessarily use the same digitized fonts that are readily available for the computer.

Signs like this are made with sign-making systems such as the Leroy Lettering System. The "fonts" are templates which are traced with a pantograph and an engraving or routing tool. The lettering styles made for such systems are similar to existing typefaces, but not the same. It's a kind of parallel universe to the world of typography.

Thet text face looks like plain ole Arial (can't really make out
the tail on the "R" nor the spur on the "G") while "Pendol Pond"
is quite similar to Engravers Gothic/ Sackers Gothic.

Trade Gothic or News Gothic have a very different "skeleton" so I
guess that rules them out. This is a clear Helvetica-model grotesk.

The other possibility I had in mind (if the leg on the "R" proves to
be straight and the "G" has a spur) is Berthold Akzidenz-Grotesk
or a similar face, but the middle bar on the "E" is too short and
the "S" is closed more in the sample