 | Board of Visitors minutes October 11, 1958 |  |
PURKEY TRACT RECONVEYANCE AT CLINCH VALLEY COLLEGE
President Darden called to the attention of the Board certain option agreements contained in
a deed from Annie E. Purkey and C. M. Purkey, her husband, dated July 25, 1957, recorded July 31,
1957 in the Clerk's Office of the Circuit Court of Wise County, Virginia, in D. B. 338 p. 367,
under which the Rector and Visitors had acquired title to a tract of 33.96 acres needed in the
development of Clinch Valley College, which option agreements provided as follows
"It is understood and agreed that the second parties contemplate the construction of
a road through the property hereby conveyed leading to the Clinch Valley College of the
University of Virginia. Within sixty days after this proposed road has been located on the
ground by survey and a map of same presented to the first parties, or either of them, the
said first parties, or either of them, shall have the option to elect to keep their
dwelling house, located on the said land hereby conveyed, and in which they now reside,
together with the lot on which said dwelling house is located which said lot shall face
on the Old Hurricane Road 100 feet and run back from the Old Hurricane Road between parallel
lines at right angles to the said Old Hurricane Road a distance of 150 feet. Should the
first parties so elect to retain said dwelling house then the second parties agree to reconvey
said dwelling house and lot for a consideration of Five Thousand ($5,000.00) Dollars,
which amount shall be credited upon the deferred purchase money notes above described
Should the first parties, or either of them, elect not to take said dwelling house and lot,
or fail to make election within said sixty day period, then the title of the second parties
to said dwelling house and lot shall become absolute, and the option shall be at an end."
It was pointed out that when the entrance road into Clinch Valley College was located
through the Purkey tract there remained a small triangular lot lying between the dwelling house
lot covered by the option and the entrance road which lot was useless to the College and which
should in reality be included with the dwelling house lot, that, subject to the approval of the
Board, it had been agreed to so include it at the price of $150.00, and that Annie E. Purkey
having died, C. M. Purkey, individually, had elected to exercise the option granted him under
the deed of July 25, 1957, and desired a deed
The President then submitted to the Board for its consideration a draft of the deed conveying
the dwelling house lot containing 0.42 acres, more or less, to C. M. Purkey, which draft
had been prepared by C. Venable Minor, Special Counsel for The Rector and Visitors
The Board was reminded that the conveyance must receive the approval of the Governor, and
it was pointed out that the deed as drafted provided for the signature of the Governor thereto
as evidence of his approval of the conveyance
After discussion, upon motion duly made and seconded, it was
RESOLVED by The Rector and Visitors of the University of Virginia, that the reconveyance
to C. M. Purkey of the tract of 0.42 acres, more or less, being a portion of a tract of 33.96
acres situated in Gladeville Magisterial District of Wise County, Virginia, acquired by deed
from Annie E. and C. M. Purkey, dated July 25, 1957, recorded July 31, 1957, in the Clerk's
Office of the Circuit Court of Wise County, Virginia, in D. B. 338 p. 367, upon the terms and
conditions hereinabove outlined in the minutes of this meeting, be, and the same is hereby
empowered and directed, the approval of the Governor of the State of Virginia, as required by
Section 23-77.1 of the Code of Virginia, 1950, as amended, having first been obtained thereto,
to execute, on behalf of The Rector and Visitors of the University of Virginia, a deed, substantially
in the form of the draft submitted to this meeting, conveying with Special Warranty
of Title, to C. M. Purkey, said tract of 0.42 acres, more or less, and that the President be, and
he is hereby, authorized, empowered and directed to deliver said deed to said C. M. Purkey or his
authorized representative.
| Board of Visitors minutes October 11, 1958 | |