Purpose

The land is subject to a restrictive covenant
which prevents the building of any dwelling on the land. A request
has been made to release the covenant and, following negotiations,
the parties have agreed terms for a Deed of Release whereby a
consideration sum will be paid to release the restrictive
covenant.

Decision

To grant a deed of release of the restrictive
covenant subject to receipt of a minimum consideration fee upon the
terms agreed between the parties

Alternative options considered

Option 1 - Enter into a Deed of Release upon
the terms agreed
Option 2 - Reject the terms agreed and negotiate new terms
Option 3 - Refuse to release the restrictive covenant