Central Delaware County Authority v. Greyhound Corp.

*50OPINION OF THE COURT

FLAHERTY, Justice.

In 1941 and 1950 the Baldwin Locomotive Works conveyed to the Central Delaware County Authority (“Authority”) two parcels of land. The Authority paid $5,500 for the parcel conveyed in 1941 and $2,970 for the parcel conveyed in 1950. The deeds in both cases conveyed a fee simple interest subject to a restrictive covenant appearing in the encumbrance clause. The 1941 deed contains the following provision:

It is specifically covenanted, stipulated, and agreed between the parties hereto that the said tract of land, while in the ownership and possession of the…