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HomeMy WebLinkAbout#2948- Deed; QUIT-CLAIM DEED From City of South Bend to American Home Dreams, Commonly known as 313 and 317 Broadway - part 129 8 Quit Claim Deed rom City of South Bend Inc. To: American merican Home Dreams, Wenger & Grlghbaum's Lot 329 of W eng in plat Book 9, lst Broadway Add, age 74 Key No. 18-7013-0499 P commonly kown as 313 Broadway Lot 330 of Wenger & Kreighbaum s lst Broadway Add Plat Book 9 pag e 74 Key No. 18- 7013-0500 commonly known as 317 Broadway Transfer No. Taxing Unit Date W A R R A N T Y D E E D CIVIL CITY OF SOUTH BEND a municipal corporation of the State of Indiana the Grantor CONVEYS AND WARRANTS TO TOWN TOWER MOTEL CORPORATION the Grantee for and in consideration of One Dollar ($1.00) and other good and valuable consideration the receipt of which is hereby acknowledged, Real Estate in St. Joseph County, in the State of Indiana, described as follows: Parcel "A" A tract of land located within Lots 166 and 167 as shown on the Original Plat of South Bend, St. Joseph County, Indiana, more particularly described as follows: Beginning at the Southeast corner of said Lot 166; thence west along the south line of Lot 166 a distance of 122 feet; thence Northeasterly to a point on the north line of said Lot 166 and 69 feet west of the North- east corner of said Lot 166, a distance of 84.5 feet more or less; thence further Northeasterly to a point on the East line of said Lot 167 and 58 feet North of the Southeast corner of said Lot 167, a distance of 90 feet more or less:.; thence South along the East line of said Lot 167 a distance of 58 feet to the Southeast corner of Lot 167; thence continuing South along the East line: of Lot 166 a distance of 66 feet to the Southeast corner of Lot 166 and the point of beginning, containing 8,304 square feet. Parcel "B" A tract of land located within Lots 157 and 158 as shown on the Original Plat of South Bend, St. Joseph County, Indiana, more particularly described as follows: All of the North one-half of Lot 158 except a triangular tract beginning at the Northeast corner of said Lot 158; thence South along the East line of said Lot 158 a distance of 33 feet to the Southeast corner of the North one-half of said Lot 158; thence Northwesterly to the North line of said Lot 158 and 28 feet West of the Northeast corner of said Lot 158, a distance of 43 feet more or less; thence East along the North line a distance of 28 feet to the point of beginning; also, a contiguous parcel described as follows: Beginning at the Southwest corner of said Lot 157; thence North- easterly to a point 40.5 feet East and 30.0 feet North of said Southwest corner of Lot 157, a distance of 50 feet more or less; thence East and parallel to the South line of Lot 157, a distance of 50.0 feet; thence Southeasterly to a point on the South line of said Lot 157 and 28 feet West of the Southeast corner of said Lot 157; thence West along the South line of said Lot 157 a distance of 137 feet to the Southwest corner of said Lot 157 and the point of beginning, containing 7,788 square feet. Signed and dated on March 17 19 83. Stai:e of Indiana, St. Joseph County, ss : Before me, the undersigned, a Notary Public in and for said County and State, personally appeared: Roger 0. Parent and Irene K. Gammon, known to me to be the Mayor and City Clerk of the Civil City of South Bend, a m-unicipal corporation of the State of Indiana. and acknowledged the execution of the foregoing deed on: March 17 , 19 8 a Notary Public Cl L. Tarner -�/ ROGER 0Y PARENT, Mayor ype or rinte ame Signature K. GAMMON Cis Clerk Typedor Name Attestor typed or printed name My Commission Expires 2/9/86 This Document prepared by Carolyn V. Pfotenhauer, Assistant City Attor 1400 County -City Building, South Bend, Indiana 46601 $ 59,004.00 CITY ATTORNEYS OFFICE INTER -OFFICE MEMO Secures! by Real Estate Mortgage South Bend, Indiana, March 21, .I9 83. i promise to pay to the order of The Civil City Of South Bend the su,m of Fifty Nine Thousand and Four Dollars ($59, 004. 00) as follows: Two payments of $29, 502 . 00 each with the first payment due on July 31, 1984 and the second payment due on January 31, 1986. payableat the Office of the City Controller, 1200 County -City Bldg., South Bend, IN With interest at the rate of per cersl per annum computed N / A during such period when there shelf be no delinquency or default in the payment of any moneys to be pPd on this obligation but with interest at the rate of eight per cent per annum computed semi-annually during such period when there shall be any delinquency or default in the payment of any moneys to be paid on this obligation and to be computed to the next interest period following such delinquency or default, and said rate shall continue to be paid until all delinquencies and defaults are removed by the beginning of a succeeding interest period, all without relief from Valuation and Appraise- ment Laws, and with attorney's fees. Failure on the part of any holder to collect or charge the additional interest rate during any delinquency or default shall at no time constitute a waiver of his right, or any other holder's right, to demand and receive interest as provided herein. Installment payments heretnabaur provided shall be applied first to the payment o/ any unpaid interest, secondly to the. unpaid balance of any other unpaid debt on account of this obligation, and thirdly the remainder to be applied on the unpaid principal of the debt until the same is paid in full. Upon default in the payment of any installment or other payment herein required when the same shall become due, the entire unpaid principal, interest and other in- debtedness on account of this obligation and mortgage securing the same shall, at the option of the holder thereof, become due and payable immediately without notice of non- payment or demand for payment, and the entire indebtedness may be collected by appropriate proceedings. No failure on the part of the holder of this obligation in exercising said option to declare the whole of said indebtedness due or to proceed to collect the same shall operate as a waiver of the right to do so or preclude the exercise of such ape on at any lime during the continuance of such default or the occurrence of a succeeding default. Advance payment may be made in any amount, and interest on such advance pay- ments shall not be charged beyond the next succeeding interest period. The holder of this obligation may renew the same or extend time of payment of the indebtedness or any part thereof or reduce the payments thereon; any and such renewal, extension or reduction shall not release any maker, endorser or guarantor from any liability on said obligation. The drawers. sureties, guarantor& and endorsers severally waive presentment for payment, protest, notice of protest and non-payment of this note. The receipt of interest in advance or the extension of time shall not release or discharge any surety, guarantor or endorser on this note. This instrument was prepared by aLys u Pf/l j aue yAssZ-start ('1' t_y AtAnrnQ�L, ,out. Bend, Member of St. Joseph County Indiana Bar Association. Indiana COPYRIGHT NOyEMBCR, 1955, ST. JOSEPH COUNTY INDIANA BAR ASSOCIATION CVP/clt Attachment CITY ATTORNEY S OFFICE INTER -OFFICE MEMO ` SANDY PARMERLEE DATE: MARCH 24, 1983 CLERK OF THE BOARD OF PUB CrWORKS FROM: CAROLYN V. PFOTENHAUER ASSISTANT CITY ATTORNEY SUBJECT: TOWN TOWER REAL ESTATE TRANSACTION Attached is a copy of the real estate mortgage and the promissory note signed in conjunction with the sale of City property to Town Tower Motel Corporation. I am also attaching for your information a copy of the warranty deed. Since the agreement which David Wells negotiated with Town Tower on this property provided that the City furnish title insurance, I am enclosing the bills from Abstract and Title Corp. I talked to John about these bills a couple of weeks ago. They will have to be paid out of Board of Public Works funds. The title work was done in early February so the bills should be paid as soon as possible. I have forwarded Town Tower's check for $29,502.00 which represents the first of three payments to Deputy Controller Sherrie Petz. Subsequent payments of $29,502.00 each are due on July 31, 1984, and January 31, 1986. The real estate mortgage should be sent to the Recorder's Office for recording. The original closing date on this property was February 1, 1983. Ronald J. Olsen did, in fact, come in and sign the documents. I learned shortly thereafter that Mr. Olsen's power of attorney was limited and that he had no authority to sign for the corporation in this matter. It was, therefore, necessary for Anthony Gurvis, President of the Town Tower Corporation, to come to South Bend and execute new documents. As you will note, the attached documents are dated March 21, 1983. If you have any questions on this matter, please contact me. CVY/clt Attachment CITY ATTORNEY IS OFFICE INTER -OFFICE MEMO TO,. DATE; SHERRIE PETZ MARCH 9, 1984 DEPUTY CITY CONTROLLER FROM; CAROLYN V. PFOTENHAUER ASSISTANT CITY ATTORNEY SUBJECT; TOWN TOWER MOTEL PROPERTY r You will recall that in March, 1983, the City sold the Town Tower property to Town Tower Motel Corporation and took a Promissory Note and a real estate mortgage in the amount of $59,004.00, payable in two payments of $29,502.00 with the first payment due on July 1, 1984, and the second payment due on July 31, 1986. Town Tower Motel Corporation is now selling the property to Tom Brademas and I advised them that they would have to pay off the entire mortgage balance before the City would issue a release of mortgage. On March 8, I received a cashiers check drawn on the Huntington National Bank in Columbus, Ohio, in the amount of $59,004.00. The remitter is Crown Dielectric Industries, another corporation owned by the owners of Town Tower Motel Corporation. This check pays off the entire amount due on the mortgage and note. I have drafted a release of mortgage and will be processing it through the Board of Public Works next Monday. The check is attached to this memo. Please process it immediately. If you have any questions, please contact me. CVP/clt Attachment CC: Sandy Parmerlee Clerk Board of Works Personally appeared before me, the undersigned, a Notary Public in and for said County and State, John E. Leszczynski, Richard L. Hill and Michael L. Vance, known to me to be the members of the Board of Public Works of the City of South Bend, Indiana, CITY of SOUTH BEND ROGER O PARENT, Mayor COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601 March 12, 1984 BOARD OF PUBLIC WORKS John E. Loszczynsl.i, President Richard L. Hill Michael I- Vance Ms. Carol Lamberson Closing Agent Cressy & Everett, Inc. 332 North Ironwood Drive South Bend, Indiana RE: Release of Mortgage Dear Ms. Lamberson: 219/284-9412 Attached is an executed original Release of Mortgage approved by the Board of Public Works on Monday, March 12, 1984. This document releases a Mortgage made and executed by Anthony Gurvis, President of Town Tower Motel on March 21, 1983 in the amount of $59,004.00. I understand that you will have the document recorded and I would appreciate your Forwarding to this office a copy of the document indicating recordation. If you have any questions regarding this matter, please do not hesitate to contact this office. Sincerely, BOARD OF PUBLIC WORKS Sandra M. Parmerlee, Clerk SMP/mp Att. CITY ATTORNEY S OFFICE INTER, -OFFICE MEMO TO: SANDRA M. PARMERLEE DATE; MARCH 8, 1984 CLERK OF THE BOARD OF WORKS FROM; CAROLYN V. PFOTENHAUER ASSISTANT CITY ATTORNEY SUBJECT: RELEASE OF MORTGAGE The attached release of mortgage should be on the agenda for the March 12, 1984, Board of Works'meeting. Keep the executed copy for your files and send the executed original to Carol Lamberson, Closing Agent, Cressy & Everett, Inc., 332 N. Ironwood Drive, and she will record the document. I would appreciate receiving a xerox copy of the executed document for my files. CVP/clt Attachmett RELEASE OF MORTGAGE This is to certify that a certain mortgage made and executed by Anthony Gurvis, President of the Town Tower Motel Corporation, on March 21, 1983, in the original amount of Fifty Nine Thousand Four and no/100 ($59,004.00) Dollars and recorded on March 30, 1983, in the Office of the Recorder of St. Joseph County, Indiana, Instrument No. 8304773 and said mortgage made to the Civil City of South Bend, has been fully paid and satisfied, and the Recorder of said County is hereby authorized and requested to enter such satisfaction of record for said mortgage. IN WITNESS WHEREOF, the members of the Board of Public Works of the Civil City of South Bend, Indiana, have hereunto signed this instrument this 12th day of March, 1984. CITY OF SOUTH BEND BOARD OF PUBLIC WORKS n E�-s zcz n i Rlchar L. �Hi Michael L. Vance ATTEST: Carolyn P nhauer�— J STATE OF INDIANA ) SS ST. JOSEPH COUNTY ) Personally appeared before me, the undersigned, a Notary Public in and for said County and State, John E. Leszczynski, Richard L. Hill and Michael L. Vance, known to me to be the members Of the Board of Public Works of the City of South Bend, Indiana, Ly T who for and on behalf of said City acknowledge the execution of the foregoing Release of Mortgage as its voluntary act and deed. Witness my hand and seal this 12th day of March, 1984. My Commission Expires: This instrument prepared by Carolyn V Sandra M. Parmerlee, Notary Pub _ic Resident of St. Joseph County, IN Pfotenhauer, Assistant Attorney, 1400 County -City Building, South Bend, Indiana 466 - 2 - CHICAGO TITLE INSURANCE COMPANY a corporation of Missouri, herein called the Company for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof. F City of South Bend c/o Carolyn V. Pfotenhauer Asst. City Attorney County -City Bldg. Isouth Bend, IN 466ol SCHEDULE A Policy or Policies to be issued: ALTA Owners Policy — FORM B — 1970 COMMITMENT No. EFFECTIVE DATE: (Amended 10-17-70) 42618 January 28, 1983 at $42,834.o0 eight o'clock A.M. Proposed Insured— LOAN: Proposed Insured —OWNERS: Town Tower Motel Corporation ALTA Loan Policy 1970— (Amended 10-17-70) The estate or interest in the land described or referred to in this Commitment and covered herein is a fee simple and title thereto is at the effective date hereof vested in: The Civil City of South Bend, Indiana, a municipal corporation The land referred to in this Commitment is described as follows: situate in St. Joseph County, in the State of Indiana: A tract of land located within Lots 157 and 158 as shown on the Original Plat of South Bend, South Bend, St. Joseph County, Indiana, more particularly described as follows: All of the north one-half of Lot 158 except a tri- angular tract beginning at the northeast corner of said Lot 158; thence south along the east line of said Lot 158 a distance of 33 feet to the southeast corner of the north one --half of said Lot 158; thence northwesterly to the north line of said Lot 158 and 28 feet west of the northeast corner of said Lot 158, a distance of 43 feet more or less; thence east along the north line a distance of 28 feet to the point of beginning; also, a contiguous parcel described as follows: Beginning at the southwest corner of said Lot 157; thence, northeasterly to a point 40.5 feet east and 30.0 feet north of said southwest corner of Lot 157, a distance of 50 feet more or less; thence east and parallel to the south line of Lot 157, a distance - continued - AMERICAN LAND TITLE ASSOCIATION COMMITMENT FORM NO. 2288 No. 42618 SCHEDULE A CONTINUED cont. of description: of 50.0 Feet; thence Southeasterly to a point on the south line of said Lot 157 and 28 feet west of the southeast corner of said Lot 157; thence west along the south line of said Lot 157 a distance of 137 feet to the southwest corner of said Lot 157 and the point of beginning. Form 3631 a 7.76 Chicago Title Insurance Company SCHEDULEB Commitment No 42618 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same ore disposed of to the satisfaction of the Company: A. Instruments necessary to create the estate or interest to be insured must be properly executed, de- livered and duly filed for record. B. Payment of the full consideration to, or for the account of, the grantors or mortgagors should be made. C. Payment of all taxes, charges, assessments, levied and assessed against subject premises, which are due and payable should be made. D. Defects, liens, encumbrances, adverse claims, or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the dote the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commit- ment. E. Any Owner's Policy issued pursuant hereto will contain under Schedule B the General Exceptions set forth below. Any Loan Policy will contain under Schedule B General Exceptions 1, 2 and 3 unless a satisfactory survey is furnished; General Exception 4 will appear unless satisfactory evidence is furnished that improvements and/or repairs or alterations thereto are completed; that contractor, subcontractors, labor and materialmen are all paid. General Exceptions: 1. Rights or Claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Taxes or special assessments which are not shown as existing liens by the public records. F. Special Exceptions: 1. Short Form Lease dated November 20, 1958 between Gafill Oil Company, Inc., a corporation, as Lessor and D-X Sunray Oil Company, a corporation, as Lessee, for a term commencing on the 1st day of January, 1959 and ending on the 31st day of December, 1978, with a certain renewal option, re- corded November 21, 1962, in Book 192, pages 650-655. (Affects Lot Numbered one hundred fifty-seven (157) as shown on the Original Plat of the Town now City of South Bend, except a strip of land forty and one-half (1403,�) feet in width from east to west taken off of and from the entire width of the west end of said lot; also the north half of Lot Numbered one hundred fifty-eight (158) as shown on the Original Plat of the Town now City of South Bend.) 2. Memorandum of Lease dated April 15, 1974, by and between Sun Oil Company of Pennsylvania, A Pennsylvania Corporation, Lessor, and Amtel, Inc., a Rhode Island Corporation, successor by merger to South Central Oil Company, a Delaware Corporation, Lessee, recorded June 20, 1974 in Book 285, pages 120-121. (Affects Lot Numbered one hundred fifty-seven (157) as shown on the Original Plat of the Town now City of South Bend, except a strip of land forty and one-half (401z) feet in width from east to west taken off of and from the entire width of the west end of said lot; also the north half of Lot Numbered one hundred fifty-eight (158) as shown on the Original Plat of the Town now City of South Bend,) - continued - FORM NO. 2289 ---1 jyrd nr --i,.l mm�e -----'--�_ .T, CONDITIONS AND STIPULATIONS 1. The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security instrument. 2. if the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interests or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowl- edge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment sholl not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3, liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements here- of, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies commuted for and such kobility is subject io the insuring provisions, the Exclusions from Coverage and the Conditions and Stipulations of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Com- pany arising out of the status of the title to the estate or interest or status of the mortgage thereon covered by this Commitment must be based on and ore subject to the provisions of this Commitment. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. IN WITNESS WHEREOF, Chicago Title Insurance Company has caused this Commitment to be signed and sealed as of the effective date of Commitment shown in Schedule A, the Commitment to become valid when countersigned by an authorized signatory. Issued by: THE ABSTRACT AND TITLE CORPORATION OF SOUTH BEND 135 South Lafayette Boulevard South Bend, Indiana 46601 (219) 233-8258 )Z —7 Authoriz ignatory THOMAS J. MCFADDEN VICE PRESIDENT L4N., F.2290 VV�,�•I�� CHICAGO TITLE INSURANCE COMPANY ATTEST: President, Secretary Typ--d — printed name CHICAGO TITLE INSURANCE CON-AIY a corporation of Missouri, herein called the Company for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and Q and to the Conditions and Stipulations hereof. F City of South Bend County -City Bldg. South Bend, IN 46601 Attn: Carolyn V. Pfotenhauer LAsst. City Attorney SCHEDULE A COMMITMENT No. EFFECTIVE DATE: 42619 January 28, 1983 at eight o'clock A.M. Proposed Insured — LOAN: Proposed Insured —OWNERS: Town Tower Motel Corporation Policy or Policies to be issued: ALTA Owners Policy — FORM B—i970 (Amended 10-17-70) $45,672.00 ALTA Loan Policy 1970— (A mended 10-17-70) The estate or interest inthe land described or referred to in this Commitment and covered herein is a fee simple and title thereto is at the effective date hereof vested in: The Civil City of South Bend, Indiana, a municipal corporation The land referred to in this Commitment is described as follows: situate in St. Joseph County, in the State of Indiana: A tract of land located within Lots 166 and 167 as shown on the Original Plat of South Bend, St. Joseph County, Indiana, more particularly described as follows: Beginning at the Southeast corner of said Lot 166; thence west along the south line of Lot 166 a distance of 122 feet; thence northeasterly to a point on the north line of said Lot 166 and 69 feet west of the northeast corner of said Lot 166, a distance of 84.5 feet more or less; thence further northeasterly to a point on the east line of said Lot 167 and 58 feet north of the southeast corner of said Lot 167, a distance of 90 feet more or less, thence south along the east line of said Lot 167 a distance of 58 feet to the southeast corner of Lot 167; thence continuing south along the east line of Lot 166 a distance of 66 feet to the southeast corner of Lot 166 and the point of beginning. FORM NO. 2288 AMERICAN LAND TITLE ASSOCIATION COMMITMENT —� 2 j�y.�d or grin lyd name --- SCHEDULE B Commitment No, 4261.9 Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Instruments necessary to create the estate or interest to be insured must be properly executed, de- livered and duly filed for record. B. Payment of the full consideration to, or for the account of, the grantors or mortgagors should be made, C. Payment of all taxes, charges, assessments, levied and assessed against subject premises, which are due and payable should be made. D. Defects, liens, encumbrances, adverse claims, or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commit- ment. E. Any Owner's Policy issued pursuant hereto will contain under Schedule B the General Exceptions set forth below. Any Loan Policy will contain under Schedule B General Exceptions 1, 2 and 3 unless a satisfactory survey is furnished; General Exception 4 will appear unless satisfactory evidence is furnished that improvements and/or repairs or alterations thereto are completed; that contractor, subcontractors, tabor and materiolmen are all paid. General Exceptions: 1. Rights or Claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey or inspection of the premises. 4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. 5. Taxes or special assessments which are not shown as existing liens by the public records. F. Special Exceptions: 1. N 33' of Lot 166 & 6 " S side Lot 167 & Tri Pc SE Cor 167 OF South Bend: Taxes for the year 1961 due in 1982 shows "TAX EXEMPT". Tax Unit 18 Key 1003 0086. Land Val. $4490.00; Prop. Use - G; Net Val. none. S 33' Lot 166 0 P So Bend: Taxes for the year 1981 due in 1982 shown "TAX EXEMPT". Tax Unit 18 Key 1003 0087. Land Val. $4430.00; Prop. Use - G; Net Val. none. E 40 ft Lot 168 & 30 X 40 ft NE Cor Lot 167 Ex Tri Pc NW Cor 0 P South Bend: Taxes for the year 1981 due in 1982 shows "TAX EXEMPT". Tax Unit 18 Key 1003 0084. Land Val. $3600.00; Imp. Val. $130.00; Prop. Use -- G; Net Val. none. Taxes for the year 1982 due in May and November, 1983. 2. Notice of Federal Tax Lien, dated December 14, 1982, against Town Tower Motel Corp. (a corporation) t/a Town Tower Motel, in the amount of $2,399.32, recorded December 14, 1982 in the office of the Recorder of St. Joseph County, Indiana, as Instrument No. 8219043. Note: A judgment and bankruptcy search as to Town Tower Motel Corporation discloses no liens of record except as noted above. Bankruptcy search limited to January 24, 1983 and search date of the Mishawaka Superior Court Records limited to January 28, 1983 at eight o'clock A.M. FORM NO, 2289 and acknomiedyrcd iite exccution. of the �orrpuin•t; d,"W orr 7'yprd or• printed rsume Rrgnnh+rc _--....—.—_. l9`____. � � Y j•pad ur prin4•tJ name CONDITIONS AND STIPULATIONS 1. The term "mortgage," when used herein, shall include deed of trust, trust deed, or other security instrument, 2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interests or mortgage thereon covered by this Commitment other than those shown in Schedule 3 hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowl- edge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions and Stipulations. 3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements here- of, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the poficy or policies committed for and such liability is subject to the insuring Provisions, the Exclusions from Coverage and the Conditions and Stipulations of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein. 4. Any action or actions or rights of action that the proposed Insured may have or may bring against the Com- pany arising out of the status of the title to the estate or interest or status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. IN WITNESS WHEREOF, Chicago Title Insurance Company has caused this Commitment to be signed and sealed as of the effective date of Commitment shown in Schedule A, the Commitment to become valid when countersigned by an authorized signatory. Issued by: THE ABSTRACT AND TITLE CORPORATION OF SOUTH BEND 135 South Lafayette Boulevard South Bend, Indiana 46601 (219) 233-8258 Authorized Signatory THOMAS J. MCFADDEN VICE PRESIDENT o;'CORPDNATp'�•.•p NLILa F.2290 CHICAGO TITLE INSURANCE COMPANY By: &6 ATTEST: P 4� President. Secretary -___�lj•prd ror prinfrd rrumr.-�-�'--W� —'--�- -- and acknowledged Uur execution of the %rer;rang deed oil COPYMIaNT ST, JOREP" COUNTY. INDIANA DAM ASSOCIATION I'ROpE RTY FORM IOS -- 1974 AUDIVOR'S RECORD Transfer No. Taxing Unit Date i ana , a municipal the Grantee forand in consideration of one dollar ($1.00) and other valuable considerations the receipt of which is hereby acknowledged, Real Estate in St. Joseph in the State of Indiana , described as follows: A part of Lot 165 and a vacated alley adjacent to and between Lots 165 and 166 of the Original Plat of South Bend described as follows: Beginning at the northeast corner of said Lot 165; thence south forty-two and ninety-three hundredths (42.93) feet along the east property line of said lot; thence northwesterly to a point twelve (12) feet west of the east property line and twenty-one (21) feet south of the north property line of said Lot 165; thence north along a line parallel to the east prop- erty line of said Lot 165 for a distance of thirty-five (35) feet more or less to the south line of Lot 166; thence east along the south property line of Lot 166 to the southeast corner of Lot 166; thence south a distance of fourteen (14) feet more or less to the point of beginning. Signed and dated on State of Indiana r St. Joseph County, ss: Before me, the undersigned, a Notary Public in and for said County and State, personally appeared: and acknowledged the execution of the foreguing deed on 19 . Notary Public Sig--­-Resz'3ent of St. Jose 6unty Barbara _J . Byers Typed or printed none —' ._----. My commission expires February 10, 1984 or printed name 2'yped or printed name 'We—eure nr'd ur printed nanir. Sii;nature Typed or printed namh Woj� County, Prepared by Carolyn V. Pfotenhauer, Assistant Cif Attorney Attorney at Gain MAIL DEED TO: MAIL TAX BILLS TO: the Crat2for corYNIaHT eT. JOIMPH COUNTY. INDIANA BAN ABBOCIATZON 1'P.Or E A TY MORM 103 -- }974 r-- AUDITOR'S RECORD Transfer No. Taxing Unit Date Release and Quit -Claim to the City of South Bend, Indiana, a municipal corporation the Grantee for and in consideration of one dollar ($1.00) and other valuable considerations the receipt of which is hereby acknowledged., Real Estate in St. Joseph in the State of Indiana described as follows: A part of Lot 165 and a vacated alley adjacent to and between Lots 165 and 166 of the Original Plat of South Bend described as follows: Beginning at the northeast corner of said Lot 165; thence south forty-two and ninety-three hundredths (42.93) feet along the east property line of said lot; thence northwesterly to a point twelve (12) feet west of the east property line and twenty-one (21) feet south of the north property line of said Lot 165; thence north along a line parallel to the east prop- erty line of said Lot 165 for a distance of thirty-five (35) feet more or less to the south line of Lot 166; thence east along the south property line of Lot 166 to the southeast corner of Lot 166; thence south a distance of fourteen (14) feet more or less to the point of beginning. Signed and dated on , .19 State of ..Indiana St. Josh County, ss: 13elore ,ne, the undersigned, a Notary Public in and for said County and Slate, personally appeared: and acknowledged Ilse execution of the, foregoing doed ou. 19 Typed or printed name f 7'�/rrd or priuled name J'igrt aturc County, Yy{+ad ur Printed name Jv_— _ , Notary PublicS.gnaI—Res event of St. Joseph County Barbara J . Byers _ si[nitarc __ Typed or printed rmma� --- My commission expire:: ___February 10, 1984 Typed or printed name-- Prepared by ­ Carolyn V. Pfotenhauer,_ AssistanttU City a LAttorney — p .e 3U��jj f�rx V 4'7'7,3 1 RF C-, T' a MORTGAGE This indenture witnesseth that TOWN TOWER MOTEL CORPORATION, a foreign corporation duly registered in the State of Indiana of 423 North Main Street, South Bend, Indiana Mortgage and warrant to the CIVIL CITY OF SOUTH BEND , as MORTGAGOR, of Board of Public Works, County -City Bldg. , South Bend'ndiana, as MORTGAGEE, the following real estate in S t . Joseph County State of Indiana, to wit: See attached Mortgage Addendum for legal descriptions of Parcel A and Parcel B t fir'`•=1: UTI G3 r1 �� r3 S mn c_o ca y� UP as well as the rents, profits and any other income which may be derived therefrom, to secure the performance of all conditions and stipulations of this agreement and: A To secure the payment, when the same shall become due, of the following indebtedness of even date herewith: Fifty Nine Thousand Four Dollars ($59,004.) with the first payment of Twenty Nine Thousand Five Hundred Two Dollars ($29,502.) due July 31, 1984 and the second payment of Twenty Nine Thousand Five Hundred Two Dollars ($29,502.) due January 31, 1986. with interest at the rate of 0 per cent per annam computed N/A during such period when there shall be no delinquency or default in the payment of any moneys to be paid on this obligation but with interest at the rate of eight per cent per annum computed semi-annually during such period when there shall be any delinquency or default in the payment of any moneys to be paid on this obligation and to be computed to the next interest period following such delinquency or default, and said rate shall continue to be paid until all delinquencies and defaults are removed by the beginning of a succeeding interest period, all without relief from Valuation and Appraisement Laws, and with attorney's fees; B Also securing any renewal or extension of such indebtedness; C Also securing all future advances to the full amount of this mortgage; D Also securing all indebtedness or liabilities incurred by the holder hereof for the protection of this security or for the collection of this mortgage. Mortgagor agrees to pay to Mortgagee, in addition to the regular payments, an amount in equal monthly installments which will cover future payments of taxes, insurance and assessments against said real estate; and these payments shall con- stitute a trust fund out of which all future taxes, insurance and assessments shall be paid by Mortgagee so far as it shall cover such payments, and any deficiency shall be paid by Mortgagor as and when the payments become due, and any permanent surplus shall be credited to the principal. M A ; L. T 0 : CQPYX10NT NoVe Cw- 1W. ST. JO9CPN COUNTY Imu1 Nw BAR ASSOCIATION Mortgagor further covenants and agrees as follows: I. To keep all buildings, fixtures and improvements on said premises, now or hereafter erected thereon, and all equipment attached to or used in connection with the fixtures on said premises herein mortgaged insured against loss or damage by fire, windstorm and extended coverage in such sums and with such insurers as may be approved by Mortgagee as a further security for said indebtedness, which insurance policy or policies shall carry a mortgage clause with loss payable to Mortgagee in form satisfactory to Mortgagee to be delivered to possession of Mortgagee to be held continuously through period of the existence of said indebtedness or any portion thereof. 2. To exercise due diligence in the operation, management and occupation of said real estate and the improvements thereon and not to remove or suffer to be removed any fixtures and/or appliance, now or hereafter placed on said premises; and to keep said real estate and improvements thereon in their present condition and repair, normal and ordinary depreciation excepted; Mortgagor shall not do or suffer to be done any acts which will impair the security of this mortgage nor any illegal or immoral acts on said premises; and Mortgagee shall have the right to inspect said premises at all reasonable times_ 3. The holder of this obligation may renew the same or extend the time of payment of the indebtedness or any part thereof or reduce the payments thereon; and any such renewal, extension or reduction shall not release any maker, endorser, or guarantor from any liability on said obligation. 4. No sale of the premises hereby mortgaged or extension of time for the payment of the debt hereby secured shall operate to release, discharge or modify in any manner the effect of the original liability of the Mortgagor; and any extension of time on this mortgage by Mortgagee or his assigns, without the consent of the holder of any junior lien or encumbrance, shall not operate to cause a loss of the priority of this mortgage over such junior lien. Mortgagee shall be subrogated to any lien or claim paid by moneys advanced and hereby secured. 5. In case any part of the premises is appropriated under the power of eminent domain, the entire amount paid for said portion of the premises so appropriated shall be paid to this Mortgagee. 6. It is agreed that time is the essence of this agreement and that, in case of default in the payment of any installment when the same shall become due and payable, the holder of the note and mortgage may, at his option, declare all of the debt due and payable, and any failure to exercise said option shall not constitute a waiver of right to exercise the same at a later date. In the event any proceedings shall be instituted on any junior lien or encumbrance against said real estate, then the Mortgagee herein may immediately declare this mortgage due and payable and institute such proceedings as may be necessary to protect his interest. The lien of this mortgage shall include all heating, plumbing and lighting or other fixtures now or hereafter attached to or used in connection with said premises. 7. In case of delinquency or default in any payment required in this mortgage and the institution of foreclosure proceedings thereunder, Mortgagee is expressly authorized to cause a continuation of the abstract of title at the expense of Mortgagor to show the con- dition of the title at the date of said continuation and which sums necessarily spent for continuation of the abstract of title to the said real estate, together with interest thereon at the rate of eight per cent per annum, shall become part of the debt secured by this mortgage and collectable as such; and in case of foreclosure and purchase of said real estate pursuant to said foreclosure by the holder thereof, the abstract of title and any continuation thereof shall be the absolute property of the Mortgagee. 8. In the event of such foreclosure, the Mortgagee, or his assigns, may apply for the appointment of a receiver, which receiver is hereby authorized to take possession of the said real estate, collect the rents, income or profit, in money or in kind, and hold the proceeds subject to the order of the court for the benefit of the Mortgagee pending foreclosure proceedings. Said receiver may be appointed irrespective of the value of the mortgaged property or its adequacy to secure or discharge the indebtedness due or to become due. 9. All terms of this mortgage shall be binding on each and all successors in ownership of said real estate, as well as upon all heirs, executors, administrators of Mortgagor or successors in ownership. 10. Clauses numbered eleven (11) as set forth in Mortgage Addendum and attached are hereby incorporated in and made a part of this mortgage. hereto State of Indiana, St. Joseph County, ss: Before me, the undersigned, a Notary Public in and for said County and State, personally appeared: Town Tower Motel Corporation by Anthony Gurvis, President and acknowledged the execution of the foregoing mortgage. In witness whereof, I have hereunto subscribed my name and affffixrd Illy Official seat, this —A---day offWU%_P' J� qD __,V i resi�iiz 'n S ,]'cos ph County, l )• �. Rlj.�•i,riniiti.ti+nrt expires_LV—�==5 Dated this�Day of 14 �3 Anthony Gurvis, President of Town Tower Motel Corporation Seal /,-," seal AfUT140/U Y rUR Lill � PVe:S, Seal Seal Sea! Seal r This instrument was prepared by C—ar—O-Iyn,_ M.UeiAphsg er,.Assistant City —Attorne, South hfen'drn?ir. Jo.{pph Coanh• Indiana Bar Association Bend, Ind.ana_ 304'7'73 MORTGAGE ADDENDUM LEGAL DESCRIPTIONS Parcel "A" A tract of land located within Lots 166 and 167 as shown on the Original Plat of South Bend, St. Joseph County, Indiana, more particularly described as follows: Beginning at the Southeast corner of said Lot 166; thence west along the south line of Lot 166 a distance of 122 feet; thence Northeasterly to a point on the north line of said Lot 166 and 69 feet west of the Northeast corner of said Lot 166, a distance of 84.5 feet more or less; thence further Northeasterly to a point on the East line of said Lot 167 and 58 feet North of the Southeast corner of said Lot 167, a distance of 90 feet more or less; thence South along the East line of said Lot 167 a distance of 58 feet to the Southeast corner of Lot 167; thence continuing South along the East line of Lot 166 a distance of 66 feet to the Southeast corner of Lot 166 and the point of beginning, containing 3,304 square feet. Parcel "B" A tract of land located within Lots 157 and 158 as shown on the Original Plat of South Bend, St. Joseph County, Indiana, more particularly described as follows: All of the North one-half of Lot 158 except a triangular tract beginning at the Northeast corner of said Lot 158; thence South along the East line of said Lot 158 a distance of 33 feet to the Southeast corner of the North one-half of said Lot 158; thence Northwesterly to the North line of said Lot 158 and 28 feet West of the Northeast corner of sa.icl L.OL 158 , a ais c.zxicc_a or 43 recL more or lc�s ; thence East along the North line a distance of 28 feet to the point of beginning; also, a contiguous parcel described as follows: Beginning at the Southwest corner of said Lot 157; thence Northeasterly to a point 40.5 feet East and 30.0 feet North of said Southwest corner of Lot 157, a distance of 50 feet more or less; thence East and parallel to the South line of Lot 157, a distance of 50.0 feet; thence Southeasterly to a point on the South line of said Lot 157 and 28 feet West of the Southeast corner of said Lot 157; thence West along the South line of said Lot 157 a distance of 137 feet to the Southwest corner of said Lot 157 and the point of beginning, containing 7,788 square feet. Clause 11. In the event of sale of the premises the holder of the note and mortgage may at its option declare all of the debt immediately due and payable and any failure to exercise said option shall not consti- tute a waiver of the right to exercise at a later date. T 8304773 C. 30 0 W I— W Q � H' Q 0 W 1. J IX ao W Ir h .�sK c ;. ANA j ; 0h R'EvG z z -o m � a !- Z U :3 o 0 a U N uu 2 a. w a W m 0