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Home My WebLink About76-9-1311229 ar°° , I I ~ ORDINANCE NO. 76-9-1311 AN ORDINANCE RELEASING CERTAIN COVENANTS , CONDITIONS AND RESTRICTIONS PREVIOUSLY RETAINED IN A DEED FROM THE CITY OF PADUCAH, KENTUCKY TO THE PADUCAH McCRACKEN RNERPORT AUTHORITY WHEREAS, by deed dated May 7, 1973, the City of Paducah, Kentucky, conveyed to the Paducah McCracken Riverport Authority certain real property located within the corporate limits of the City of Paducah, and WHEREAS , at the time of said conveyance the City of Paducah set forth certain covenants, conditions and restrictions in regard to said property and which were to be met by the Paducah McCracken Riverport Authority, and WHEREAS , the Paducah McCracken Riverport Authority has now fully complied with each of those covenants, conditions and restrictions and has requested the City of Paducah to release same . NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. That the following covenants, conditions and restrictions previously enumerated ana sew forth in the deed dated May 7, 1973, between the City of Paducah, Kentucky and the Paducah McCracken Riverport Authority which is recorded in Deed Book 567, page 503, in the McCracken County Court Clerk's Office be, and the same hereby are, fully released and declared to be held for naught. "1. The Grantor shall have continued use of property by its Floodwall Department for the purpose of maintaining of office and floodwall maintenance equipment . 2. An existing lease between Grantor and Molloy Marine Services, Inc. 3. In the event the Grantee has not established a port facility on or in connection with said property within a period of five (5) years after the date of this conveyance , then fee simple title thereto shall immediately and automatically revert back to the Grantor." SECTION 2. That a copy of this ordinance shall be forwarded to the Paducah McCracken Riverport Authority and that the Corporation Counsel of the City of Paducah be, and he is hereby, empowered to cause the aforesaid conditions, covenants and restrictions to be shown to be fully satisfied and/or released of record in the McCracken County Court Clerk's Office . SECTION 3. This ordinance shall be in full force and effect from and after 230 the date of its adoption . f Mayor ` Passed by the Board of Commissioners September 14, 1976 Recorded by Sarah Thurman, City Clerk, September 14, 1976.