Mike Murray wrote:
On 25 May 2006 07:28:05 -0700, "Rob" wrote:
Mike Murray wrote:
On Thu, 25 May 2006 12:55:41 GMT, (Sam Sloan)
wrote:
...We
can never sell the building because Harry Sabine put in a zoning
restriction that the building can only be owned as the headquarters
for a national not-for-profit organization recognized by an
international sporting organization. In other words, only the USCF can
ever own this building unless some other national not-for-profit
organization can be found .... Also, we do not have clear title to the land
under the building.
I hadn't heard these two claims before. I thought we got clear title
once we built and moved in.
Mike,
You are correct.
Rob
Rob,
I'm assuming you're answering the question of clear title. Are you
also addressing the zoning issue?
Mike,
I was referring to clear title. As I understand it, once they build
the land is theirs.
Land values around Crossville are exploding pricewise. Depending on
what the economy does, I magine they could roll the property in a few
years if needed and make a tidy profit.
There is a portion of the property that had drainage issues. It was not
in a position to adversely effect construction or require the purchase
of flood insurance. I would , however advise that flood insurance would
be prudent as ground water encroachment is not a covered peril under
property policies. They are a seperate policy entirely.
Rob