Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1889-07-05
Plan TO Build In Buena Vista.

On Friday, the 21St ult., the Directors OF
the Buena Vista Co. held a meeting at Lex
ihgton at which were present the following
members of the Board-Messrs. Barclay
Jordan, McCorkle, Glasgow, Moomaw, Mil
lei, Norman and Patrick. A contract
with an improvement company and syndi-
cate was presented and accepted. This
syndicate is composed of the following gen
tlemen: A. c. Gordon, Frank T. Glasgow,
VIM. Patrick, E. I. Jones, b. Frank Ealle
and w. S. Hopkins. This company under
takes to organize a company to improve
such lots as may be assigned to them under
the following conditions
1st The number of lots shall be one hun
bred and fifty, situated in Buena Vista, fifteen
of which shall be business lots. Twenty five
lots to be assigned from each of the six Sec
lions, as laid down Oh the plat.
I'd The lots assigned shall be favorably
located, to be agreed upon by the representa-
tiveS of the company and the syndicate.
3d. Within six months from September LIST,
1889, not less than ten thousand dollars shall
be expended in improvements, the same to be
extended over not less than ten lots.
4th. That within six months after that date
last mentioned not less than twenty thousand
dollars additional shall be expended III I'M
provements, the same to be distributed over
not less than twenty additional lois.
5th That within twelve months after the
last mentioned date not less than twenty
thousand dollars additional shall be eXpend-
ed in improvements. to be distributed over
not less than twenty additional lots.
9th. A deed, with general warranty, shall
be made to the syndicate as soon as the as
one hundred and fifty lots, with such condi-
lions as are embodied in the proposition
18th. When as much as five hundred dollars
shall have been expended upon any lot all
the conditions in the deed OF grant shall be
released as to said lot
Sth. If within the period of two years from
September list, 1899, the gross sum of fifty
thousand dollars shall have been expended
in Improvements upon said lots, then i'll that
event all conditions contained in the deed OF
grant shall be released and the syndicate
shall hold the said lots in fee simple absolute.
9th. If within the said period of two years
the syndicate shall fail to expend or cause to
be expended in improvements upon said lots the
said sum of fifty thousand dollars, then all lots
not improved shall revert to the company;
but lots on which less than five hundred dol
lars has been expended, in dwelling house
and improvements, shall become the absolute
property of the syndicate, free from all con-
ditions, upon the payment of fifty dollars for
each lot.
10TH In no event shall there be any respon
sibility on the syndicate, collectively OF indi-
vidually, to the company, by reason OF this
proposition, save only to suffer deficiencies
and forfeiture in the manner and under the
conditions above set forth.
A committee was appointed to treat
with paper mill company to be located at
Buena Vista.
A resolution to change the name of the
Green Forest Iron and Steel Company to
the ''Buena Vista Iron and Steel Com
pany" was adopted.
A committee was appointed to receive
the hotel from the contractor, Mr.. Petty
john, when the terms of the contract were
complied with.