Confirming Tax Abatement - Mastic - A Kusan, Inc. Company 1507 S. Olive St. (10 Year Real Property)

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• RESOLUTION NO. I `F t 9- S , A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, COM- MONLY KNOWN AS 1507 SOUTH OLIVE STREET TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF REAL PROPERTY TAX ABATEMENT. WHEREAS, the Common Council of the City of South Bend has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the pur- pose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 1507 South Olive Street and more particularly described as follows : Real Estate in St . Joseph County, in the State of Indiana, described as follows: PARCEL I - A lot or parcel of land situated in the West Half (1/2) of the Southeast Quarter (1/4) of the Northwest Quarter (1/4) of Section 15, Township 37 North, Range 2 East, described as follows : Beginning at the point of intersection of the South line of the St. Joseph, South Bend and Southern Railroad Company' s right of way with the East line of the aforesaid West Half (1/2) of the Southeast Quarter (1/4) of the Northwest Quarter (1/4) of said Section 15, said point of beginning being Four Hundred Eleven and Six Tenths (411. 6) feet North of and Six Hundred Sixty-Five and Two Tenths (665 .2) feet West of the center of said Section 15; thence running West along the South line of the right of way of said St. Joseph, South Bend and Southern Railroad Company, Six Hundred Sixty-Two and Forty-Eight Hundredths (662 .48) feet, more or less, to the West line of the aforesaid West Half (1/2) of the Southeast Quarter (1/4) of the Northwest Quarter (1/4) of Section 15; thence South along last mentioned line, two Hundred One and Forty-Five Hundredths (201.45) feet; thence East Six Hundred Sixty-Two and Seventy-Four Hundredths (662.74) feet more or less, to the East line of the aforesaid West Half (1/2) of the Southeast Quarter (1/4) of the Northwest Quarter (1/4) of said Section 15; thence North along said last men- tioned line Two Hundred Three and Seventy-Five Hundredths (203 .75) feet to the place of beginning. PARCEL II - Beginning at a point 308.9 feet North and 30 feet West of the center of Section 15, Township 37 North, Range 2 East, thence North along the West line of Olive Street, a distance of 102 .7 feet to the South line of the St. Joseph, South Bend and Southern Rail- road Co. ' s right of way; thence West along the South line of said company' s right of way, a distance of 635 .2 feet to the West line of the East Half of the Southeast Quarter of the Northwest Quarter of said Section 15; thence South 146 .2 feet; thence East 477. 8 feet; thence North 25 feet 9 inches; thence East 157.4 feet to the West line of Olive Street; thence North 19 feet 3 inches to the place of beginning, all in Sec- tion 15, Township 37 North, Range 2 East. PARCEL III - A lot or parcel of land in the East Half of the Southeast Quarter of the Northwest Quarter of Section No. 15, Township No. 37 North, Range No. 2 East, bounded by a line running as follows : Beginning at a point Two Hundred Sixty-Three and Nine-Tenths (263 . 9) feet North and One Hundred Eighty-Seven and