Mizell v. Greensboro Jaycees-Greensboro Junior Chamber of Commerce, Inc.

LEWIS, Judge.

The facts are undisputed. On 1 October 1980, Southern Life Insurance Company conveyed land located at 332 South Greene Street (headquarters) in Greensboro, North Carolina to the defendants, the Jay cees and Junior Chamber of Commerce (Jay cees). The deed contained the following reservation of a right to Southern Life:

If at any time prior to the 25th anniversary of this conveyance to the Grantee [Jaycees], the Grantee should receive a bona fide written offer from a third party to purchase the property herein conveyed, which offer Grantee desires to accept, the grantee shall first…