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(Parcel III) formerly belonging to W. J. E. Bullock; thence in a general westerly direction following the run of the center of the branch being the line of the land known as "Tract D" W. Ji E. Bullock Est. tO a point in the branch at the junction of the line of C. Bm Benton, the City of Portsmouth and the W. J. E. Bullock Est.; thence in a northwesterly direction follow- ing the line of the~City of Portsmouth and across the right of way of the Virginia Electric And Power Company to the right of way of the Southern right of way at the point of beginning. Said parcel contains 12.54 acres. PARCEL III Ail that certain tract, piece or parcel of land, situate in the City of Suffolk, Virginia (formerly Holy Magisterial District, Nansemond County, Virginia), bounded and described as follows: On the north by a branch of Beaver Dam Run forming the boundary line between the land hereby conveyed and the tract of land above-described (Parcel II) known as the "Benton Land"~ the land of 6tis S. Smith, Sr., and the land of the City of Portsmouth; on the South by the right of way of the Jackson Lumber Company (formerly Suffolk Lumber Company); on the east ~.y the land formerly of Alcora Folk (Paulk) and now of Butts~ Estate and on the west by the line of the property of the City of Portsmouth (at Beaver Dam run) and contains 32~5 acres. The conditions of this conveyance shall be as follows: (1) That the City of Portsmouth shall retain the option to purchase .such portions of the herein-described property wh'i'ch are not included in the right of way of %he southwest bypass after construction of said highway. The price to be paid for repurchase shall be One Dollar ($1.O0) Der parcel.