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AccessMyLibrary    Browse    W    Watertown Daily Times (Watertown, NY) (via Knight-Ridder/Tribune News Service)    NOV-04    Watertown, N.Y., development trust secures promise that Arcade will repay loan.

Watertown, N.Y., development trust secures promise that Arcade will repay loan.

Publication: Watertown Daily Times (Watertown, NY) (via Knight-Ridder/Tribune News Service)

Publication Date: 19-NOV-04
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COPYRIGHT 2004 Watertown Daily Times

Byline: Brian Kelly

Nov. 19--The Watertown Local Development Corp. has agreed to end its lawsuit against the owners of the Paddock Arcade, based on the promise that a $40,000 loan given in 2002 will be fully repaid.

Donald W. Rutherford, executive director of the corporation also known as the Watertown Trust, told its board of directors that Roxanne M. Burns, who owns the Arcade with her husband, John P. Burns, has agreed to sign a "confession of judgment," meaning the couple...

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