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R-99'59 <br /> <br />AGREEMENT WITH SWEETBRIAR DEVELOPMENT CORPORATION FOR <br />PROPERTY LOCATED AT THE SOUTHEAST INTERSECTION OF VICTORY <br />BOULEVARD AND GREENWOOD DRIVE. <br /> <br /> BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that the City <br />Manager be, and he hereby is authorized to enter into a lease with Sweetbriar Development <br />Corporation for property located at the intersection of Victory Boulevard and Greenwood Drive, <br />by which agreement the City of Portsmouth will lease said property for a period of five (5) years, <br />said lease to provide further (1) that should the lease run for its full term, Sweetbriar <br />Development Corporation will convey fee simple title to the City of Portsmouth in consideration <br />of the Lease Payments and the sum of Two Hundred ($200.00) Dollars, (2) that the City may <br />accelerate its purchase of the property by appropriate notice to Sweetbriar Development <br />Corporation. Said property to be more particularly described in the lease and by survey, as <br />approved as to form and accepted by the Office of the City Attorney. <br /> <br /> Adopted at a meeting of the Council of the City of Portsmouth, Virginia held on October <br />26, 1999. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />