Vacate - First Noth?South Alley West of William St Extending North from the North Line Western Ave

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J B.DAVID HUNTINGTON AND ASSOCIATES. INC. March 23, 1988 Mr. C. Brian Sauers, Atty Barnes and Thornburg 100 North Michigan, Suite 600 South Bend, Indiana 46601 RE: Fair market value, that portion of a certain public alley lying between and adjacent to lots 6 and 12, Vail's Sub. of block 6 of the City of South Bend. (Between Williams and Taylor Streets, north of Western Avenue, South Bend, Indiana) Dear Mr. Sauers: At your request and pursuant to Section 18 Chapter 5 of the Municipal Code of the Civil City of South Bend, as amended by ordinance 7812-87, I have performed an appraisal of the above referenced real property which is comprised of a dedicated public alleyway lying between lots 6 and 12 and adjacent parcels in Vail's Subdivision of Block 6, South Bend, Indiana. This public alleyway was dedicated as part of the original plat described above and constitutes a 14 foot wide public access running northerly from Western Avenue to its intersection with the right-of-way of another public alleyway 14 in width running east and west between Williams Street and Taylor Street and bearing a northerly dimension of 198 feet by description as appearing in the Office of the Assessor, Portage Township, St. Joseph County, Indiana. The purpose of this letter is to set forth the Appraiser's estimate of the Fair Market Value of the fee simple interest in the real estate which consists of a publicly owned and accessible alleyway bearing described dimensions of 14 by 198 feet and excepting therefrom the rights and easements of all public utilities and the municipal City of South Bend, Indiana, to construct and maintain any facilities including, but not limited to, the following: electric, telephone, gas, water, sewer, surface water control structures and ditches, situated within the right- of-way thereof, unless and until such rights are released by the appropriate individual utilities and municipality. At present and by dedication easement, it would appear that the fee simple interest in and to the subject real estate vests in the municipal City of South Bend. It is the understanding of the appraiser that the property has been or is intended to be petitioned for vacation under and pursuant to City ordinance, presumably by the adjacent property owner(s) in order to eliminate traffic flow through the public alleyway and in order to conjoin the adjacent and contiguous parcels owned in the fee simple by the petitioner. Schedule A, attached hereto and made a part hereof by this reference, indicates the owners of record and the legal descriptions of the various parcels according to their tax key identification number as found in the Investment Analysis•Feasibility Studies•Market Analysis•Appraisals 1520 North Main Street•Mishawaka,Indiana 46545• (219) 255-2130