HomeMy Public PortalAbout1986_02_26_R038The Town of Leesburg in Virginia
PRESENTED February 26, 1986
RESOLUTION NO. 86-38 ADOPTED February 26, 1986
A RESOLUTION: AMENDING THE SALES CONTRACT AND DEVELOPMENT AGREEMENT WITH
MARKET SQUARE ASSOCIATES, INC., PERTAINING TO PARCEL 2 OF
THE VEPCO TRACT
WHEREAS, the Council authorized a contract with Market Square Associates,
Inc. by Ordinance No. 85-0-2 for the sale and development of the former VEPCO
tract; and
WHEREAS, Resolution No. 85-64 and 85-209 authorized extensions of time for
the submittal of development plans for Parcel 2 of the VEPCO tract; and
WHEREAS, Market Square Associates desires to purchase Parcel 1 of the VEPCO
tract on or before April 1, 1986, as previously authorized; and
WHEREAS, a deed covenant will guarantee submittal of a concept plan within
six months following settlement which will provide Council approval authority
for the use of this tract:
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The sales and development agreement between the Town of Leesburg
and Market Square Associates, Inc. dated February 25, 1985, and amended May 8,
1985 and November 27, 1985, is amended further to require submittal of a concept
plan for the development of Parcel 2 of the Vepco tract within six months following
settlement.
Salevep
SECTION II. The settlement date for the purchase of Parcel 2 of the Vep¢o tract
shall be on or before April 1, 1986.
SECTION III. Deed covenants shall guarantee concept plan submittal as pro-
vided hereinabove.
SECTION IV. This amendment shall not impair or alter any other provision of
the contract between the Town of Leesburg and Market Square Associates, Inc.
PASSED this 26th day of February 1986.
Clerk of Co
Town of Leesburg
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