In 1949, Hugh G. Caldwell and Anne V. Caldwell conveyed a parcel of land to Eva Clarke and Philip J. Clarke (hereinafter the Clarkes). The deed, recorded August 26, 1949, contained a right of first refusal clause (hereinafter the repurchase clause), which reads as follows: "If the parties of the second part at any time hereafter desire to sell the premises herein conveyed they shall, prior to the...
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